Gold price is battling it out just below $2,400 early Wednesday after witnessing a muted close a day ago.
Gold price struggles below $2,400 as buyers refuse to give up. US Dollar eases with Treasury yields ahead of more Fed speak. Gold price portrays a symmetrical triangle on the 4-hour chart, with a bullish RSI. Gold priceis battling it out just below $2,400 early Wednesday after witnessing a muted close a day ago.
Gold price remains at a critical juncture, although risks appear skewed to the upside, as the Relative Strength Index holds well above the 50 level, currently near 56.0. The bright metal needs a four-hour candlestick closing above the falling trendline resistance at $2,396 to confirm an upside break from the symmetrical triangle. The next topside barrier will be seen at therecord high of $2,432, above which the $2,450 psychological level aligns.
XAUUSD Fed Commodities Riskaversion
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD hovers around $2,350 as investors await news from the Middle EastGold consolidates around $2,350 a troy ounce on Monday, struggling to find directional strength in a risk-averse environment.
Read more »
Gold Price Forecast: XAU/USD gains momentum above $2,350, investors await US CPI dataGold Price (XAU/USD) extends its upside near $2,355 during the early European trading hours on Wednesday.
Read more »
Gold Price Forecast: XAU/USD extends rally above $2,170 amid weaker US Dollar, geopolitical tension risksGold Price (XAU/USD) extends its upside above the mid-$2,150 during the early Asian trading hours on Tuesday.
Read more »
Gold Price Forecast: XAU/USD consolidates around $2,175 ahead of a fresh catalystGold trades within familiar levels on Monday amid a scarce macroeconomic calendar and easing US Dollar demand.
Read more »
Gold Price Forecast: XAU/USD retraces recent losses, rises to near $2,170Gold price rises to near $2,170 per troy ounce, reclaiming losses from the previous two sessions.
Read more »
Gold Price Forecast: XAU/USD eyes acceptance above $2,200 amid bullish technicalsGold price is rebounding firmly toward the $2,200 threshold in Monday’s Asian trading so far, as the US Dollar recovery takes a breather amid sluggish US Treasury bond yields and a mixed market mood.
Read more »