In Wednesday’s session, the Gold Spot price declined towards $1,980, seeing 0.
XAU/USD declined to $1,980 after the decision and is down by 0.25% on the day. The Fed decided to hold rates steady at the 5.25%-5.50% range. US Treausry yields are declining, which may limit the metal's losses. The bank remains data-dependant and left the door open for another hike. 25% gains after the Federal Reserve decision to hold rates at the 5.25%-5.50% range.
Focus now shifts to Chair Powell’s presser for investors to look for further clues on the following decisions. XAU/USD Levels to watch The daily chart suggests a neutral to a bearish outlook for the short term for the yellow metal’s price as buyers show signs of exhaustion after hitting overbought condition last week. That being said, the 20-day Simple Moving Average is about to perform a bullish cross with the 200-day average, which would limit potential losses by acting as a strong support.
United States Latest News, United States 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 dips below $2000 as Middle East conflict fears easeGold price (XAU/USD) fell below the $2000 mark late in the New York session, registering losses of 0.
Read more »
Gold Price Forecast: XAU/USD remains capped below the $2,000 barrier, Chinese PMI data loomsGold price (XAU/USD) consolidates below the $2,000 psychological mark during the early Asian session on Monday.
Read more »
Gold Price Forecast: XAU/USD bullish potential remains intact, focus shifts to FedGold price Is catching a breather below $2000 early Tuesday, having corrected sharply from near five-month highs on Monday.
Read more »
Gold Price Forecast: XAU/USD’s upswing may not continueGold price exceeded the $2,000 mark again for the first time in five months and a half on Friday.
Read more »