Gold Prices Today: Gold (XAU/USD) extends its intraday decline on Thursday as the latest US Personal Consumption Expenditures (PCE) inflation data reinforce expectations of a Federal Reserve (Fed) rate hike in December after the US central bank held interest rates steady at its October meeting. At the time of writing, XAU/USD trades around $4,022, down 1.11% on the day.
Gold Price Forecast
XAU/USD Gold Price Forecast: $4,100 Support in Focus
Gold price (XAU/USD) remains under pressure in the early European trading session on Wednesday. The precious metal is struggling below the $4,150 level after falling close to the $4,100 area in the previous session.
Gold Price Forecast: Deutsche Bank Warns of Fall to $3,800 on Fed Rate Hike Risk
Gold prices may face significant pressure in the coming months if the US Federal Reserve signals fresh interest rate hikes, according to a recent report by Deutsche Bank. The German banking giant has revised its gold price outlook lower, warning that tighter monetary policy could weigh heavily on the precious metal.
Gold Price Holds Near $5,000 as Lunar New Year Holiday Slows Global Trading Activity
Gold prices are staying close to the important $5,000 level as global trading activity slows down during the Lunar New Year holiday period. Lower participation from major Asian markets has reduced volatility, keeping prices in a narrow range.
MCX Gold Weekly Outlook: Price Recovers 5%, Key Levels to Watch This Monthv
MCX Gold Weekly Outlook: Comex Gold rebounded from last week’s multi-week low of $4,402 to finish the week nearly 1.5% higher. Weaker-than-expected US jobless claims strengthened expectations of a rate cut, lending support to prices near lower levels. However, a recovery in the US dollar capped further upside in the yellow metal. The near-term outlook remains bullish as long as the $4,500 support holds.