GOLD XAUUSD Chart Technical Outlook Price Rises on Fed Pause Expectations and Rate Cut Speculations; Eyes Weekly Gains.
The GOLD price (XAU/USD) has experienced an upward trend for two consecutive days, including Friday, marking its fourth increase in the last five days. The price is now just shy of a high not seen in nearly two weeks, achieved the previous day.
Strengthened projections of a prolonged halt in Federal Reserve (Fed) rate hikes, reinforced by recent weaker US economic data, have emerged as significant factors propelling the non-interest-bearing gold.
