09 Jun Gold Price (XAU/USD) Futures Price – Live Gold Chart, Price Forecast & News
Gold News and Forecast
Anti-fiat Gold prices rallied over> Telegram < the past 24 hours as the haven-oriented US Dollar extended its sharp selloff from late May. The Dow Jones and S&P 500 closed +1.70% and +1.20% respectively as the latter erased losses from the turn of the year to aim for current 2020 peaks. An expansion in the Federal Reserve’s Main Street Lending Program helped boost equities into Wall Street’s close.Growth-oriented crude oil prices were unable to capitalize on the upbeat tone in financial markets. This is likely due to Saudi Arabia announcing that the voluntary additional production cuts – agreed upon from the weekend OPEC+ meeting – would go on for just 1 month. That could mean that the world could see insufficient reductions in supply to counterbalance weak demand due to global growth slowing.Over the next 24 hours, the economic docket is fairly light as investors await this week’s Federal Reserve monetary policy announcement. Final revisions to Euro-zone GDP for the first quarter are due ahead, but gold and crude oil prices may continue focusing on general market sentiment. Futures tracking the S&P 500 are little changed heading into European trading hours.Gold Technical Analysis Gold prices have closed under a near-term rising support line from the middle of April – red line on the daily chart below. That may open the door to a reversal given confirmation. On the whole however, XAU/USD remains in a consolidating setting. Prices are hovering just above the key support range (1658 – 1678). A bounce here would open the door to test resistance which is a barrier between 1730 – 1747. You can join our with paid signal channel on Telegram we have been the most consistent reliable Forex Signals service in world. Join us and change your life. If you want daily profit then you can join with us and get 90% profitable trade always. For more info about our paid group > inbox us or select our service package Click here Forex Signal, Forex Trading ,
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