Gold Price Forecast: XAUUSD bulls look to $1,741 and $1,750 ahead of Fed – Confluence Detector Gold XAUUSD Confluences Commodities Fed
release. Recession fears are rife after the euro area and the US preliminary S&P Global business PMIs disappointed last Friday. The US bond markets were on a roll higher, which boosted the bullion at the expense of the Treasury yields. Gold traders also remain unnerved, with a slew of earnings reports from the US tech titans, such as Apple Inc. and Alphabet Inc, due on the cards.
Further up, bulls will challenge the pivot point one-day R1 at $1,741 on their way to $1,750 – a psychological barrier. 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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