Gold (XAU) Daily Forecast: Dollar Stalls, Can Prices Break Above $2,590 Pivot?
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Gold prices are climbing as the dollar stalls, with traders focusing on the $2,590 pivot and upcoming Federal Reserve commentary for potential bullish momentum. The key question is whether resistance will hold or break this week.
November 18, 2024 | 7:45 am
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AAAU, a gold-backed ETF, may see price movements as gold prices climb due to a stalling dollar. Traders are watching the $2,590 pivot and Fed commentary for further direction.
AAAU is directly impacted by gold price movements. As gold prices rise due to a stalling dollar, AAAU may experience upward price pressure. The $2,590 pivot and Fed commentary are crucial for determining if this trend continues.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80