Gold price remains steadily above $2,650 for the second straight session on Wednesdayas traders increased the odds for another big interest rate cut by the Federal Reserve (Fed) at the upcoming November meeting.
Gold price steadied at $2,660 after hitting a record high of $2,670. Traders assign a 60% chance for another 50 bps of Fed rate cuts in November. US Treasury yields and a stronger US Dollar limited Gold 's upside despite bullish momentum. Gold price remains steadily above $2,650 for the second straight session on Wednesdayas traders increased the odds for another big interest rate cut by the Federal Reserve at the upcoming November meeting.
From a momentum standpoint, the Relative Strength Index signals that Gold is overbought, which could cause a leg-down before the rally resumes. If XAU/USD extends its rally past the current year-to-date peak of $2,670, look for a challenge of $2,675, followed by $2,700. Up next would be the $2,750 level, followed by $2,800. On the flip side, if XAU/USD drops below $2,650, look for a test of the September 18 daily high at $2,600.
XAUUSD Fundamental Analysis Technical Analysis SEO
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.
Microsoft will cut another 650 gaming jobs, mostly at Activision BlizzardMicrosoft is laying off another 650 gaming employees in the second round of cuts after the Activision Blizzard merger.
Read more »
Microsoft lays off 650 more Xbox employeesMicrosoft has announced more layoffs for Xbox employees. Around 650 roles are being eliminated, months after Microsoft made big cuts following its Activision deal.
Read more »
Microsoft Lays Off 650 People in Its Gaming DivisionThe move comes after the software giant went on a corporate spending spree.
Read more »
Xbox lays off 650 people, says that won’t lead to canceled gamesMicrosoft is conducting another round of Xbox layoffs this year, with 650 workers impacted.
Read more »
Climate change-triggered landslide unleashes a 650-foot mega-tsunamiIn September 2023, scientists around the world detected a mysterious seismic signal that lasted for nine straight days. An international team of scientists, including seismologists Alice Gabriel and Carl Ebeling of UC San Diego's Scripps Institution of Oceanography came together to solve the mystery.
Read more »
650-foot tsunami in Greenland made waves for days, scientists findEvan Bush is a science reporter for NBC News.
Read more »