Gold Price Forecast: XAU/USD eyes $1,950 as US Dollar Index cracks, US Q4 GDP eyed

From fxstreet.com

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)