Gold Price Forecast: XAU/USD trades around $1,950 as risk aversion intensifies

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Gold Price Forecast: XAU/USD trades around $1,950 as risk aversion intensifies
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Gold price resumed its rally amid escalating Middle East tensions, reaching a fresh two-month high of $1,962.62 a troy ounce. XAU/USD holds on to int

XAU/USD Current price: $1,949.82 Upbeat Chinese data partially offset the dismal mood triggered by Middle East woes. Wall Street turns red and trims weekly gains as earnings reports miss estimates. XAU/USD soars to fresh monthly highs aims to extend its advance. raday gains, trading at around $1,949 mid-American session as the US Dollar got some attention on the back of plummeting stock markets. United States President Joe Biden briefly visited Israel on Wednesday.

7% in September, according to the Office for National Statistics . The figure exceeded the market expectation of 6.5% but matched the August reading. American indexes fell following discouraging earnings reports. The Dow Jones Industrial Average is the best performer, down 0.52%. With earnings season just starting, most companies' reports surpassed analyst expectations, but Wednesday was filled with bad news.

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