Gold Price Forecast: XAU/USD rebounds toward $1,800 amid US Dollar sell-off Gold XAUUSD DollarIndex YieldCurve Commodities
The Japanese Yen rallied hard and smashed the USD/JPY pair after the central bank kept the rates unchanged but tweaked the operational functions of the yield curve control framework. The sudden slump in the pair dragged the US Dollar sharply lower across the board, lifting the USD-sensitive Gold price.
Meanwhile, risk-aversion could put a floor under the US Dollar slump, keeping a check on the upside in Gold price. The next relevant stop for Gold bulls is seen at the December 15 high of $1,809. The 14-day Relative Strength Index inches higher above the midline, supporting the upswing. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
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