In Wednesday’s session, the Gold Spot price declined towards $1,980, seeing 0.
XAU/USD declined to $1,980 after the decision and is down by 0.25% on the day. The Fed decided to hold rates steady at the 5.25%-5.50% range. US Treausry yields are declining, which may limit the metal's losses. The bank remains data-dependant and left the door open for another hike. 25% gains after the Federal Reserve decision to hold rates at the 5.25%-5.50% range.
Focus now shifts to Chair Powell’s presser for investors to look for further clues on the following decisions. XAU/USD Levels to watch The daily chart suggests a neutral to a bearish outlook for the short term for the yellow metal’s price as buyers show signs of exhaustion after hitting overbought condition last week. That being said, the 20-day Simple Moving Average is about to perform a bullish cross with the 200-day average, which would limit potential losses by acting as a strong support.
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