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XAU/USD Technical Analysis

XAU/USD Technical Analysis

On the daily chart below, we can see how the price of gold has been trending up since the US CPI report in November. The market started to expect a less hawkish Fed and an earlier than expected pause in their tightening cycle.

Of course, after that the market started to see also cuts coming later in 2023. The price of gold is correlated with real yields because treasuries “compete” with gold as risk free assets, but gold doesn’t have a yield and the buyers can profit only from price ap... Read More

Posted: Feb 10 2023, 13:11
Author Name: forexlive
Views: 082349

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