Gold price is consolidating Wednesday’s rebound in Asian trading on Thursday, as buyers await more employment and wage inflation data from the United States (US) for fresh trading impetus.
Gold price holds recovery from four-week lows, as focus shifts to more US data. US Dollar bounces with US Treasury bond yields and the USD/JPY pair. Gold price capitalizes on RSI flipping to the bullish zone on the daily chart. Gold priceis consolidating Wednesday’s rebound in Asian trading on Thursday, as buyers await more employment and wage inflation data from the United States for fresh trading impetus.
A sustained move above that level will revive the bullish interests, calling for a test of the $2,370 round level. The next topside target is seen at the April 22 high of $2,392. Alternatively, the immediate support is seen at the $2,300 threshold, below which the multi-month low of $2,282 will come into play. Failure to defend the latter will trigger a fresh downtrend toward the 50-day SMA at $2,229.
Canada Latest News, Canada 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 battles to extend gains beyond $2,300Gold bottomed at $2,281.56 early on Wednesday, as demand for the US Dollar extended at the beginning of the day amid a dismal mood.
Read more »
Gold Price Forecast: XAU/USD sellers keep sight on $2,223 and the Fed decisionGold price is catching a breather early Wednesday, having hit a four-week low at $2,285 on Tuesday.
Read more »
Gold Price Forecast: XAU/USD stable below $2,300 despite mounting fearsSpot Gold is under strong selling pressure on Tuesday, breaking through the $2,300 mark in the American session.
Read more »
Gold Price Forecast: XAU/USD struggle with $2,330 extends, as focus shifts to Fed decisionGold price is looking to build on to the previous downside early Tuesday, as traders continue to take profits off the table in the lead-up to the US Federal Reserve (Fed) interest rate decision due on Wednesday.
Read more »
Gold Price Forecast: XAU/USD advances for a third consecutive dayGold trades with a positive tone on Monday, now hovering around $2,345 a troy ounce, as the US Dollar eases on the back of a better market mood that also sees stock markets advancing and government bond yields retreating.
Read more »
Gold Price Forecast: XAU/USD tests critical daily support line, will it defend?Gold price is seeing a negative start to a new week on Monday, having booked a weekly loss.
Read more »