Gold Price Forecast: XAU/USD fades bounce off 200-DMA as US Dollar bears retreat amid holiday season – by anilpanchal7 Gold XAUUSD RiskAppetite China Fed
rebound from the intraday low, as well as downbeat China data.
On the other hand, China’s Industrial Profits dropped 3.6% during the January-November period versus -3.0% prior.bulls could be the fresh geopolitical fears emanating from Russia, China and North Korea. Above all, the receding hawkish bias from the Federal Reserve , due to the recently downbeat prints of the US Core US Personal Consumption Expenditures While portraying the mood, S&P 500 Futures rise 0.60% intraday to 3,892 whereas the US 10-year Treasury yields remain sluggish at around 3.74% by the press time.
However, bearish MACD signals and an upward-sloping resistance line from December 05, close to $1,821 by the press time, challenges the precious metal’s further upside.
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