Gold prices (XAU/USD) have managed to rebound modestly in recent days, but it continues to exhibit a consolidation-oriented bias
Volatility could pick up next week, with the Fed decision on the economic calendar
This article focuses on gold’s technical outlook, examining important price thresholds that could be relevant in the upcoming days
Gold has displayed limited volatility in recent trading sessions and hasn’t really gone anywhere for the past two weeks or so, with prices moving up and down with no discernable trend. Things, however, could change in the coming days, courtesy of a high-impact event on the U.S. economic calendar: the Federal Reserve decision on Wednesday.
In terms of expectations, the U.S. central bank is seen holding borrowing costs unchanged but could drop its tightening bias from the post-meeting policy statement.
While strong economic growth, as reflected in the latest GDP report, argues in favor of policymakers retaining a hawkish tilt, progress on disinflation makes the case to start laying the groundwork for a shift toward an easing stance. It is for this reason that a dovish outcome should not be entirely ruled out.
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