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Gold Price Forecast: XAU/USD grinds higher ahead of United States Gross Domestic Product

From fxstreet.com

Gold price (XAU/USD) prints mild losses around $1,925 as bulls take a breather after a five-week uptrend, especially amid a lack of traders from China and the Federal Reserve’s (Fed) silence period. Even so, the bright metal stays near the highest levels since April 2022 as XAU/USD bulls await the first readings of activity data for January and the advanced estimates of the United States’ Gross Domestic Product (GDP) for the fourth quarter (Q4) 2022. That said, the Gold buyers cheered upbeat sentiment and the US Dollar’s weakness, mainly due to China-inspired market optimism, softer data from the United States and ... (full story)

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  • Category: Technical Analysis