$XAUTUST Chart Analysis of Price Prediction 2025 see more chartBITFINEX:XAUTUST Chart Analysis of Price Prediction 2025 see more chart...
Gold price flat lines above $2,760 level as traders keenly await FOMC decision Gold Price Forecast: XAU/USD nears $2,750 as Fed’s decision looms
From a technical perspective, the recent breakout through the $2,720-2,725 horizontal barrier and positive oscillators on the daily chart suggest that the path of least resistance for the Gold price remains to the upside. A subsequent move above the $2,772-2,773 area will reaffirm the constructive outlook and lift the XAU/USD beyond the $2,786 area, or the highest level since October 2024 touched last Friday, towards the all-time peak, near the $2,790 zone. Some follow-through buying, leading to a strength beyond the $2,800 mark, will be seen as a fresh trigger for bullish traders and pave the way for an extension of a well-established uptrend witnessed over the past month or so.
XAU/USD Current price: $2,753.60
The Federal Reserve will likely keep rates on hold in today’s monetary policy meeting.
The United States will publish the preliminary estimate of the Q4 GDP on Thursday.
XAU/USD could extend its slide in the near term amid prevalent US Dollar demand.
Gold is under modest selling pressure on Wednesday as caution rules ahead of the Federal Reserve’s (Fed) monetary policy announcement. The United States (US) central bank is widely anticipated to keep the benchmark interest rate unchanged after trimming 25 basis points (bps) and settling it at 4.25%-4.5% in December.
Support levels: 2,747.20 2,734.60 2,716.50
Resistance levels: 2,764.85 2,777.30 2,789.95
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making any investment decisions.
