Gold price forecast: XAU/USD increases on Fed shift rumors, US rates fall
The market speculates on a Fed shift as the price of gold increases by roughly 1% due to a WSJ piece. US T-bond rates decreased, which supported the gold price as it recovered from the month’s lows. Gold Price Prediction: A break over $1650 might drive gold to $1665, but the downward trend is still present.
As US Treasury yields decline in response to a Wall Street Journal (WSJ) article stating that Fed officials are divided about December’s rate hike, as November’s increase to the Fed funds rate (FFR) of 75 bps is most certain, gold prices rebound from monthly lows around $1617 and move steadily upward towards the $1640s region.
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