The gold price (XAU/USD) posts modest gains on the weaker US Dollar (USD) on Wednesday.
Gold price edges higher on Wednesday amid the softer USD. The growth in gold demand and geopolitical tensions lift the price of precious metals. The US CPI and PPI data on Wednesday could offer some hints about the Fed’s monetary policy path. The gold price posts modest gains on the weaker US Dollar on Wednesday.
On the flip side, the key support level for gold will emerge at the $2,325–$2,330 region, representing the confluence of the lower limit of the descending trend channel, the 100-period EMA, and a low of May 13. The breach of this level will see a drop to the $2,300 round figure, followed by a low of May 2 at $2,281. US Dollar price today The table below shows the percentage change of US Dollar against listed major currencies today. US Dollar was the weakest against the Australian Dollar.
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