Gold is slowly rising despite a stronger USD as global bourses seem to have reached a peak and the only way from here is down. XAU/USD was also supported as the U.S. Federal Reserve is expected to keep interest rates on hold at its first policy meeting of the year later this month (lower interest rates and a cheaper dollar encourage the buying of the bullion which is considered a more “secure” investment). Get ready for this key event with my free live webinar, BDSwiss webinar.
Being well supported the long-term weekly and daily charts showing further demand and a possible push higher towards the 1575 level but may also test a resistance at $1,564 per ounce
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EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
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