XAUUSD Gold Forecast And Technical Analysis Week 20-24 Nov

Gold rallied to its highest close in more than a month, up 1.4% for the day and 1.8% for the week to $1,296.50 getting a boost from a higher dollar amid uncertainty over progress in U.S. tax reform legislation.

They’re pricing out Trump’s tax reform once again as a result of those two proposals in Congress that are quite far apart from each other and the equity market rally is possibly becoming a little exhausted for now, and that should be supportive of gold in the short term.

U.S. stock indexes have moved to lower levels on Friday, which is benefitting the safe-haven gold market. Pre-placed buy stop orders have also been triggered in the futures market when prices moved above near-term technical resistance levels.

XAUUSD Gold Forecast and Technicals:



Source: http://www.fxters.com/xauusd-gold-forecast-technical-analysis-6/

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