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Gold Price Forecast: XAU/USD eyes $1,950 as US Dollar Index cracks, US Q4 GDP eyed
Gold price (XAU/USD) is aiming to test the $1,950.00 resistance for the first time in the past nine months as the US Dollar Index has faced immense pressure. The precious metal displayed a vertical rally after dropping to near $1,920.00amid rising hopes that the Federal Reserve (Fed) has no other option than to announce a smaller interest rate hike ahead. Also, a pause announced in the policy tightening by the Bank of Canada (BoC) has conveyed a message that major central banks have reached to the terminal rate. The US Dollar Index (DXY) has dropped to near seven-month low of around 101.20 and a downside break will ... (full story)
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- Jan 25, 2023 6:56pm Jan 25, 2023 6:56pm
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Macd-rsi - Joined Oct 2019 | Status: Forexian Fighter = FF | 59 Comments
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- zaki117
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From youtube.com/bloombergquicktakenow|Jan 25, 2023Following a record series of interest rate hikes that lifted its key interest by 425 basis points within 10 months, the Bank of Canada became the first major central bank to ...
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From youtube.com/cmegroup|Jan 25, 2023USD weakness lifts gold above $1,940. Todd Colvin discusses.
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- Posted: Jan 25, 2023 5:40pm
- Submitted by:Category: Technical AnalysisComments: 2 / Views: 296
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