XAUUSD

8. Dez.

Gold price (XAU/USD) struggles to capitalize on its goodish intraday bounce from a one-and-half-week low touched earlier this Friday, though it manages to stick to modest gains through the first half of the European session. The US Treasury bond yields remain suppressed amid bets that the Federal Reserve (Fed) will lower borrowing costs in December. This, in turn, keeps the US Dollar (USD) near a multi-week low and acts as a tailwind for the non-yielding yellow metal. Apart from this, a slight deterioration in the global risk sentiment, geopolitical tensions and trade war fears turn out to be other factors underpinning the safe-haven Gold price. That said, expectations for a less dovish Fed, bolstered by hopes that US President-elect Donald Trump's policies will boost inflation, keep a lid on any further gains for the XAU/USD. Traders also seem reluctant to place aggressive directional bets ahead of the release of the US Nonfarm Payrolls (NFP) report. Gold has experienced a growth wave, peaking at 2,666.35, followed by a correction down to 2,616.60. A new growth impulse towards 2,663.00 is underway, and we anticipate the formation of a consolidation range around this level. If the price breaks upward, it may continue its ascent towards 2,714.00. The MACD indicator supports this bullish outlook, with its signal line hovering near zero and pointing upwards