XAUUSD sell confirm signal Gold price extends its losing streak for the sixth consecutive trading day on Wednesday. The precious metal has been battered by the upbeat US Dollar, which has strengthened as traders are pricing out another Fed larger-than-usual interest rate cut of 50 bps in their next meeting in November.
Gold price extends losing spell amid upbeat US Dollar ahead of FOMC Minutes
Gold now sell 2621
Support 2600
Resistance 2640
FOMC Target
Xauusdforex
Xauusd Gold preserves its bullish momentum and trades near $2,580 after setting a new record-high slightly above this level. The 10-year US Treasury bond yield stays in the red below 3.7% as markets reassess the odds of a large Fed rate cut, helping XAU/USD push higher.
Gold now sell 2577
Support 2550
Resistance 2587