GOLD: Where is Price Headed Now?

GOLD: Where is Price Headed Now?

2023-12-14 • Updated

Gold prices (XAU/USD) continued their upward trajectory on Thursday, bolstered by dovish guidance from the Federal Reserve (Fed). The precious metal's fundamentals are gaining strong support, suggesting a potential for sustained gains in the long term.

The Fed's new projections indicate a willingness for more rate cuts than previously anticipated. This shift is attributed to substantial progress in inflation, which is on a declining trend toward the 2% target. Additionally, a stable job market and reduced inflation projections contribute to the favorable environment for gold.

Despite signaling potential rate cuts and offering lower inflation guidance, Fed Chair Jerome Powell refrained from declaring victory over inflation. The central bank is, however, expected to navigate a 'soft landing,' achieving price stability without negatively impacting the labor market or triggering a recession.

(Gold) XAUUSD - Weekly Timeframe


Gold(XAUUSD) created a new ATH (All-Time-High) last week, and retraced almost immediately after. Right now on the weekly timeframe, Gold seems to be in search of new support levels from which it could possibly reclaim the high. In my opinion, I think Gold is likely going to retest the supply zone once again before completing the retracement.

(Gold) XAUUSD - D1 Timeframe


On the Daily timeframe, Gold has bounced off the 50-Day moving average, heading towards the supply zone as indicated. It is my sentiment in the meantime that Gold would reach the supply zone before any real decline in prices can occur.

Analyst’s Expectations: 

Direction: Bullish

Target: 2070.10

Invalidation: 2012.58


The trading of CFDs comes at a risk. To succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.


You can access more trade ideas and prompt market updates on the telegram channel.


XAUUSD: What To Expect Now.
XAUUSD: What To Expect Now.

Following the CPI data release on Tuesday, the price of Gold dropped from its recent high at $2,000 all the way through to the $1980 region where it is currently sitting. As we anticipate what could be next for the yellow metal ahead of the Retails sales data release from the US. In the meantime...

XAUUSD: Review of Recent Price Action
XAUUSD: Review of Recent Price Action

Gold prices, stable above $2,000 per ounce, commenced the week on an uptrend driven by a rallying US dollar and anticipation surrounding the upcoming Federal Reserve meeting. Analysts highlight that the market is keen on the Fed's signals for the coming months rather than immediate announcements.

XAUUSD: Two Possible Scenarios for XAUUSD
XAUUSD: Two Possible Scenarios for XAUUSD

Intraday Bullish Scenario: Consider buying above 2028.50 with TP1: 2033, TP2: 2036, and TP3: 3039 on extension. Intraday Bearish Scenario: Look for sales below 2024 with TP1: 2000, TP2: 2016, and upon breakout TP3: 2013.

Latest news

WTI and Brent React To a Key Pivot
WTI and Brent React To a Key Pivot

Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...

XAUUSD: Will Gold Continue to Rally?
XAUUSD: Will Gold Continue to Rally?

Last week I gave a trade idea on XAUUSD with a target around the $2,020 price line. At the time of writing, XAUUSD already exceeded the target and I’m sure that would leave a lot of people wondering what to expect next. Below, I have presented my view of how I expect the price action to turn out in the meantime.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera