Gold Spot / U.S. DollarUpdated Gold Awaits Fed's Move
XAUUSD is currently trading at $2,586, near the critical resistance level of $2,588.972.
The upward momentum is still supported by the EMA 34 ($2,561.747) and EMA 89 ($2,536.316). However, if this resistance is not broken, the price may retrace to the support zone at $2,554.101.
If the price holds above this level, gold could continue rising, aiming for the $2,614 mark.
With the FOMC meeting scheduled for later today, the market is awaiting key interest rate decisions, which could cause significant short-term volatility in gold prices.
Traders should closely monitor macroeconomic news signals to make informed trading decisions.
The upward momentum is still supported by the EMA 34 ($2,561.747) and EMA 89 ($2,536.316). However, if this resistance is not broken, the price may retrace to the support zone at $2,554.101.
If the price holds above this level, gold could continue rising, aiming for the $2,614 mark.
With the FOMC meeting scheduled for later today, the market is awaiting key interest rate decisions, which could cause significant short-term volatility in gold prices.
Traders should closely monitor macroeconomic news signals to make informed trading decisions.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.