Market news
22.03.2023, 06:58

Gold Price Forecast: XAU/USD to rally back toward $2,000 on Fed's dovish language

Gold price licks its wounds below $1,950. XAU/USD bulls could come up for last dance ahead of Federal Reserve, FXStreet’s Dhwani Mehta reports.

Gold price action leans toward a bullish bias

“Acceptance above the $1,950 psychological level is needed to initiate any recovery toward the previous static resistance at $1,960. The Fed-driven volatility could lead Gold buyers to retest the $2,000 mark and beyond on a dovish outlook.”

“A break below the previous day’s low of $1,935 could reinforce selling interests toward the $1,900 level. Hawkish Powell could challenge Gold’s bullish commitments at the March 17 low of $1,918 before attacking the $1,900 round level.”

See – Fed: Banks Preview, no pause yet, going ahead with 25 bps hike

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location