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Gold Price Forecast: XAU/USD rises to near $4,230, remains broadly confined above 20-day EMA
Gold price (XAU/USD) gains 0.4% to near $4,230 during the European trading session on Friday. The yellow metal trades firmly, but is confided in a tight range between $4,164 and $4,265 for the last four trading days. The outlook of the precious metal remains bullish as the Federal Reserve (Fed) is widely anticipated to cut interest rates in its monetary policy announcement on Wednesday. Lower interest rates by the Fed bode well for non-yielding assets, such as Gold. According to the CME FedWatch tool, the probability of the Fed cutting interest rates by 25 basis points (bps) to 3.50%-3.75% in the December policy ... (full story)
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