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: