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Gold Price Forecast: XAU/USD gains momentum toward a record close above $2,070 amid the USD weakness
Gold price (XAU/USD) gains traction above a record close of $2,070 during the early Asian session on Thursday. The upward momentum of yellow metal is bolstered by the softer US Dollar (USD) across the board. Gold price currently trades near $2,080, gaining 0.09% on the day. Meanwhile, the US Dollar Index (DXY), a measure of the value of the USD against a weighted basket of currencies used by US trade partners, drops to its lowest level since July near 100.85. The Treasury yields edge lower, with the 10-year yield standing at 3.80%. The decline in November’s US Core Personal Consumption Expenditure Price Index ... (full story)