Gold Price Forecast: XAU/USD lacks firm intraday direction, stuck in a range around $2,000 – by hareshmenghani Gold Commodities Fed InterestRate XAUUSD
/USD holds steady around the $2,000 psychological mark through the first half of the European session and is influenced by a combination of diverging forces.The US Dollar comes under renewed selling pressure and erodes a major part of the overnight gains amid the uncertainty over the Federal Reserve's rate-hike path. This, in turn, is seen lending support to the US Dollar-denominated Gold prices.
On the flip side, the $1,980 level, followed by the $1,969 region might continue to act as immediate support levels. Some follow-through selling will be seen as a fresh trigger for bearish traders and drag Gold price towards the next relevant support near the $1,956-$1,955 area. The XAU/USD could eventually drop to the monthly low around the $1,950 region.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD trading flat, poised for potential gains amid light US economic agendaGold Price Forecast: XAU/USD trading flat, poised for potential gains amid light US economic agenda – by christianborjon Gold XAUUSD Commodities Metals
Read more »
Gold Price Forecast: XAU/USD approaches $2,000 amid downbeat United States Treasury bond yields, US DollarGold Price Forecast: XAU/USD approaches $2,000 amid downbeat United States Treasury bond yields, US Dollar Gold SEO XAUUSD RiskAppetite YieldCurve
Read more »
Gold Price Forecast: XAU/USD volatile, between stronger Dollar and lower Treasury yieldsGold price rebounded sharply during the last hour, rising more than $10. XAU/USD bottomed at $1,975 and then jumped to $1,994. As of writing, it trade
Read more »
Gold Price Forecast: XAU/USD surges to weekly high above $2000 amidst deteriorating risk appetiteGold Price Forecast: XAU/USD surges to weekly high above $2000 amidst deteriorating risk appetite – by christianborjon Gold XAUUSD Commodities Metals
Read more »
Gold Price Forecast: XAU/USD bulls attack $2,000 amid banking, United States default woesGold price (XAU/USD) stays on the front foot around $2,000 during a three-day winning streak amid early Wednesday. In doing so, the bright metal benef
Read more »
Gold Price Forecast: XAU/USD bears flex muscles around $1,990 as clues for US GDP loomGold price (XAU/USD) stays defensive around $1,995 as the metal buyers await fresh clues to defend the two-day uptrend amid early Wednesday. In doing
Read more »