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Gold Price Forecast: XAU/USD advances towards $1,760 as Fed looks to halt bigger rate hike culture

From fxstreet.com

Gold price (XAU/USD) has attempted a recovery after declining to near $1,754.00 in the early Tokyo session. The precious metal remained sideways on Thursday due to less volume as United States markets were closed on account of Thanksgiving Day. Considering the optimism in the overall market, the gold price is expected to continue its upside journey toward the crucial hurdle of $1,760.00. The USD index (DXY) displayed back-and-forth moves below the round-level resistance of 106.00. The US Dollar is prone to test a three-month low at 105.34 as the Federal Reserve (Fed) is set to ditch the bigger rate hike culture in ... (full story)

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  • Category: Technical Analysis