Gold price (XAU/USD) attracts some buyers for the third successive day on Thursday, albeit it lacks follow-through and trades below the weekly top during the Asian session.
Gold price ticks higher for the third straight day on Thursday, albeit lacking bullish conviction. Fed rate cut bets keep the USD bulls on the defensive and continue to lend some support. The risk-on mood caps the upside as traders keenly await the release of the US CPI report. Gold price attracts some buyers for the third successive day on Thursday, albeit it lacks follow-through and trades below the weekly top during the Asian session.
Moreover, oscillators on the daily chart have been gaining positive traction and suggest that the path of least resistance for the Gold price is to the upside. This, in turn, supports prospects for some follow-through strength towards reclaiming the $2,400 mark with some intermediate hurdle near the overnight swing high, around the $2,386-2,387 zone, and the $2,393 area, over a one-month top touched last week.
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 Forecast: XAU/USD keeps sight on $2,277 and high-impact US CPI, FedGold price is consolidating the two-day upswing while defending the $2,300 level early Wednesday.
Read more »
Gold Price Forecast: XAU/USD back to its comfort zone around $2,330Spot Gold rallied on Thursday, returning to its comfort zone at around $2,330, trading just below the level mid-American session.
Read more »
Gold Price Forecast: XAU/USD battles to retain the $2,300 markXAU/USD bearish momentum accelerated on Wednesday, and the bright metal trades at around $2,300.00 a troy ounce mid-American afternoon, with the US Dollar firmer against all major rivals.
Read more »
Gold Price Forecast: XAU/USD extends slide below $2,320 as USD demand persistsGold traded lifeless throughout the first half of Tuesday, confined to a tight range just below the $2,330 mark, further sliding after Wall Street’s opening.
Read more »
Gold Price Forecast: XAU/USD consolidates around $2,330 in quiet start to the weekSpot Gold trades with a soft tone on Monday, with XAU/USD hovering around $2,330.00.
Read more »
Gold Price Forecast: XAU/USD sellers eye $2,300 yet again as new week kicks inGold price is nursing losses early Monday, having witnessed a more than 1% sell-off on Friday.
Read more »