GOLD BUY TODAY CONFIRM ANALYSIS

26 Ara 2023

Gold price (XAU/USD) rises to a near three-week high, around the $2,055 region earlier this Friday, albeit struggles to capitalize on the move amid a modest US Dollar (USD) uptick. In fact, the USD Index (DXY), which tracks the Greenback against a basket of currencies, reverses a part of the previous day's slide to a near five-month trough touched in the aftermath of a downward revision of the US GDP print. The third and final reading from the US Bureau of Economic Analysis showed that the world's largest economy expanded by a 4.9% annualized pace vs. a 5.2% rise in the second estimate. The markets were quick to price in a greater chance that the Federal Reserve (Fed) will start cutting rates as early as March 2024 and 155 basis points (bps) of easing by the end of next year