Gold price flirts with $2,320 in the American session, trimming early losses that sent XAU/USD to a weekly low at $2,303.60.
XAU/USD Current price: $2,316.79 The US Dollar shed early gains despite a souring market mood. Fed eral Reserve's officials mixed comments doing little for speculative interest. XAU/USD remains technically neutral, with sellers pushing for fresh weekly lows. The US Dollar lost momentum after Wall Street's opening despite the poor performance of American indexes. The Dow Jones Industrial Average posts some modest gains, although the Nasdaq Composite and the S&P 500 trade in the red.
At least market players understood it wouldn't be anytime soon, regardless of the Fed's dot plot signalling three potential rate cuts through 2024 at the beginning of the year. XAU/USD short-term technical outlook The daily chart for XAU/USD shows that the upward potential remains well-limited. The Momentum indicator turned south below its 100 level, while the Relative Strength Index indicator consolidates around its midline, reflecting the absence of buying interest.
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