Gold's unstoppable rally continues on Wednesday, with the bright metal reaching a fresh record high just ahead of $2,300 a troy ounce.
XAU/USD Current price: $2,290.28 The US ISM Services PMI resulted at 51.4 in March, easing from 52.6 in the previous month. The ADP survey showed the private sector added 184K new positions in March. XAU/USD keeps posting record highs, extreme overbought conditions hint at a bearish correction. Gold's unstoppable rally continues on Wednesday, with the bright metal reaching a fresh record high just ahead of $2,300 a troy ounce.
Earlier in the day, the country published the ADP survey on private job creation, showing the economy added 184K new positions in March, surpassing expectations of 148K. Additionally, February's reading was upwardly revised from 140K to 155K. As a result, Wall Street trades with a better tone weighing on USD demand. XAU/USD short-term technical outlook XAU/USD traded as high as $2,295.10 and maintains a firmly bullish tone despite being extremely overbought.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD extends rally above $2,170 amid weaker US Dollar, geopolitical tension risksGold Price (XAU/USD) extends its upside above the mid-$2,150 during the early Asian trading hours on Tuesday.
Read more »
Gold Price Forecast: XAU/USD consolidates around $2,175 ahead of a fresh catalystGold trades within familiar levels on Monday amid a scarce macroeconomic calendar and easing US Dollar demand.
Read more »
Gold Price Forecast: XAU/USD retraces recent losses, rises to near $2,170Gold price rises to near $2,170 per troy ounce, reclaiming losses from the previous two sessions.
Read more »
Gold Price Forecast: XAU/USD eyes acceptance above $2,200 amid bullish technicalsGold price is rebounding firmly toward the $2,200 threshold in Monday’s Asian trading so far, as the US Dollar recovery takes a breather amid sluggish US Treasury bond yields and a mixed market mood.
Read more »
Gold Price Forecast: XAU/USD rally likely to run out of steamGold rose to a new record high of $2,200 after the Fed meeting.
Read more »
Gold Price Forecast: XAU/USD retreats from record highsGold price reached an all-time high on Thursday, with the bright metal trading as high as $2,222.65 a troy ounce during Asian trading hours.
Read more »