Gold is technically bullish and could extend gains once above $1,871.50 XAU XAUUSD $XAU $XAUUSD
US Federal Reserve Vice-Chair Brainard cooled down expectations for a pause in rate hikes.Gold Price soared to its highest in nearly a month, holding near a daily top at $1,869.75 a troy ounce. The American dollar gave up ground on Thursday after rallying in the previous session, with additional pressure coming from easing government bond yields and the better tone of Wall Street.
Vice-Chair Lael Brainard cooled down expectations for a pause in rate hikes, noting that inflation is still at a multi-decade high. Stocks traders have chosen to ignore those comments, at least at the time being.The XAUUSD pair is poised to extend its advance, according to the daily. Technical indicators have picked up momentum, maintaining their upward slopes within positive levels.
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