Gold Price News and Forecast: Gold flatlined after the biggest weekly gain since September
|Gold Price Forecast: Bull breakout likely, Fed continues to expand its balance sheet
Gold could soon witness a bullish breakout, courtesy of the US Federal Reserve’s (Fed) continued expansion of its balance sheet.
The yellow metal is currently changing hands at $1,477 per Oz and is set to end the week with a 1.17% gain. That is the biggest weekly gain since the third week of September.
Gold: Flatlined after the biggest weekly gain since September
Gold is lacking a clear directional bias in Asia, having eked out its biggest weekly gain in nearly three months. The yellow metal is currently trading at $1,474 per Oz, representing little or no change on the day.
Gold ended last week with a 1.07% gain - the biggest rise since the final week of September. Back then, the metal had rallied by 1.89%.
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