Gold Price Forecast: XAU/USD eyes $1,950 as US Dollar Index cracks, US Q4 GDP eyed Gold XAUUSD Fed BOC DollarIndex
essure. The precious metal displayed a vertical rally after dropping to near $1,920.00amid rising hopes that the Federal Reserve 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 has conveyed a message that major central banks have reached to the terminal rate. has dropped to near seven-month low of around 101.20 and a downside break will trigger massive selling from the market participants.
The 10-and 20-period Exponential Moving Averages at $1,924.74 and $1,895.26 respectively are aiming higher, which signals more upside ahead. Also, the Relative Strength Index is oscillating in a bullish range of 60.00-80.00, which indicates that the bullish momentum is active.
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