Gold Price News and Forecast: XAU/USD has travelled from a low of $1,563. to a high of $1,574

Yohay Elam FXStreet

Gold drops and pops following the Fed keeping rates unchanged (targets 1.5% to 1.75%)

Gold is trading at $1,570 at the time of writing following the Federal Reserve's interest rate announcement. Gold has travelled from a low of $1,563. to a high of $1,574. The DXY has fallen to a low of 97.94 form a high of 98.19 and US 10-Year Treasuries are trading between 1.6050% and 1.6680% at $1.6170 at the time of writing.

Gold Daily News: Wednesday, January 29

The gold futures lost 0.48% on Tuesday, as it retraced its Monday’s advance. The financial markets reacted to better-than-expected U.S. economic data releases (Durable Goods Orders, CB Consumer Confidence) and China virus fears somewhat eased yesterday. On last week’s Wednesday gold has bounced off $1,550 level, and since then it gained almost 2.5%. The market trades within a short-term uptrend as it is still retracing some of its move lower from the January 8 medium-term high.

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