GOLD PRICE FORECAST: XAU/USD APPROACHES RECENT LOWS AROUND $2,580
GOLD PRICE FORECAST: XAU/USD APPROACHES RECENT LOWS AROUND $2,580
XAU/USD is trading at $2,590.05, moving towards recent lows around $2,580.
The Bank of Japan and the Bank of England kept rates unchanged in their December meetings, while the U.S. revised Q3 GDP figures upward.
Gold faced selling pressure after peaking at $2,626.31, resuming its slide towards lower levels.
The U.S. Dollar gained momentum, supported by hawkish signals from the Federal Reserve, leading to further downside for gold.
Stock markets globally experienced declines, with U.S. indexes trimming losses but still under selling pressure, benefiting the USD.
