Gold Price Forecast: XAU/USD consolidates weekly gains, with sight on $2,600 and beyond
Gold price is looking to build on the previous day’s rebound early Friday, consolidating weekly gains amid the overnight weakness in the US Dollar (USD) alongside the US Treasury bond yields. Traders now await the speeches from US Federal Reserve (Fed) monetary policymakers for fresh hints on the central bank’s path forward on interest rates.
Gold price has moved at a high speed and rose from $2000 (which marked very strong resistance) to $2600 in about ten months.
At 11:38 GMT, XAU/USD is trading $2612.94, up $26.03 or +1.01%. U.S. Rate Cuts Boost Gold’s Appeal Gold’s rally was driven by the Federal Reserve’s recent decision to cut interest rates by 50 basis ...
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The wider market however didn’t trust the move and sent gold back towards $2,000/oz. before XAU/USD stabilized over the last few days to its current level on either side of $2,030/oz.
Toronto, Ontario--(Newsfile Corp. - August 16, 2024) - Goldmoney Inc. (TSX: XAU) (US: XAUMF) ("Goldmoney" or the "Company"), wishes to remind shareholders about the upcoming annual general and ...
Gold prices surged nearly 1% on Friday, reaching around $2,510, as anticipation builds ahead of Federal Reserve Chair Jerome Powell's highly anticipated speech at the Jackson Hole Symposium ...
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*Close price adjusted for splits.**Close price adjusted for splits and dividend and/or capital gain distributions. Loading more data ...
The Federal Reserve cut interest rates by 50 basis points at its September meeting, lowering the target range to 4.75%-5%.
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