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Gold Spot / U.S. Dollar
Long

XAUUSD Will it continue to rise?

By Traders-Nino
Updated
Spot gold maintained its strong upward trend during the day. The price of gold currently stands at US$1,873 per ounce, rising by more than US$15 during the day. The recent dovish change in the attitude of Federal Reserve policymakers has caused a correction in the US dollar and US bond yields, thus benefiting the trend of gold prices. The chance of the Federal Reserve raising interest rates in November is currently only 13%, which shows that the possibility of gold prices rising towards the key resistance level of $1,880 per ounce cannot be ruled out.
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