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Gold is likely to retest the latest record high and attack psychological $2500 level in coming months, as all key factors that drive the metal’s price remain supportive. Persisting geopolitical tensions and threats of escalation continue to underpin demand, along with growing signals of stronger monetary easing and one of the most significant – gold […]

The post XAU/USD: $2,500 Target Remains in Focus But Consolidation Likely to Precede Fresh Rally appeared first on Action Forex.

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26/03/2024

XAU/USD: Gold Retests $2200 Barrier on Renewed Safe-haven Demand

Gold price jumped on Tuesday and retested psychological $2200 barrier, inflated by weaker dollar on improved sentiment about Fed rate cuts and persisting geopolitical risks. Market awaits release of US inflation data, due later this week, which could bring fresh hints about timing of the start of rate cuts. Fresh strength attacks the ceiling of […]
27/04/2024

The Weekly Bottom Line: Canada – Rate Cuts on the Horizon

U.S. Highlights There was no reprieve in U.S. data this week for those concerned the economy is running too hot for the Federal Reserve to deliver imminent interest rate relief. Expectations for multiple rate cuts have been greatly pared back since the start of the year and this week’s data will only reinforce that. This […]
23/05/2024

Gold: Hawkish Fed Minutes Further Weaken Near-Term Sentiment

Gold price remains in red for the third straight day and fell to the lowest since May 15 during early European session on Thursday, in extension of Wednesday’s 1.75% drop. Fed minutes, released late Wednesday, showed that the US central bank believes that inflation will cool further over the time, but left the door open […]