- Gold price is running into a critical resistance area on the charts.
- A sell-off in Gold price and capitulation of the bulls could lead to a significant run towards $1,900.
The Gold price is making progress on the day into the final push on Wall Street and rallied from a low of $1,917.22 to a high of $1,942 on the day so far.
Gold price rose to the highest in nine months as the US Dollar and bond yields came under pressure following the start of the week's 1% drop in leading economic indicators in December which solidified the dovish sentiment surrounding the Federal Reserve, Fed, that is now expected to announce another interest-rate hike when its policy committee meets next week.
The US Dollar was weakening, making the metal more affordable for international buyers while the Fed officials are out on the blackout week ahead of the highly anticipated Fed interest rate decision. the Gold price flourished with investors now awaiting US economic data due this week that could impact the Federal Reserve's policy path.
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