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Gold prices reached a new record high on Tuesday, helped by growing expectations of more US interest rate cuts. Investors were also waiting for a speech from Federal Reserve Chair Jerome Powell to get more hints about future policy. The price of spot gold went up 1% to $3,784.01 per ounce, after hitting a new […]

The post Gold’s (XAU/USD) Bull Run Just Getting Started? A Look at What History Says appeared first on Action Forex.

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08/02/2024

XAU/USD: Gold Remains in Prolonged Consolidation Before Larger Bulls Resume

Short-term action remains in a sideways mode after the metal’s price spiked to new record high ($2141) in early December, holding within $1973/$2088 range, but mainly above psychological $2000 level, which adds to positive bias. Gold is consolidating after Oct-Dec 2023 18% advance, a part of larger uptrend from $1616 (Nov 2022 higher low) with […]
12/12/2024

Gold Price Hits Monthly High

The XAU/USD chart shows: → A notable peak in November near the $2716 level (indicated by the first arrow); → Yesterday, gold surpassed this peak, reaching a new one-month high. Factors Supporting Bullish Sentiment → Yesterday’s US Consumer Price Index data met analysts’ expectations. This bolstered market speculation about a Federal Reserve interest rate cut […]
13/05/2025

US Dollar Roars Back in a Blaze of Glory as Market Shrugs Off Recession Fears

EUR/USD dropped to 1.1110 on Tuesday, with the US dollar surging by over 1% in the previous trading session. The rally was driven by market reactions to news of a provisional agreement between China and the US to reduce tariffs, which helped alleviate global recession fears. Key factors driving EUR/USD movement Washington and Beijing have […]