Gold prices rose 0.57% on the day, extending the gains for four consecutive daily sessions. The gains came as the Fed signaled that it would keep interest rates steady at its meeting yesterday evening. Ahead of the Fed meeting, gold prices maintained a steady upside.
What is the Next Target for XAUUSD?
With the current bullish momentum, gold prices will most likely target the 1320 – 1322 level of resistance. This would mark a retest of this level which served as resistance previously. A reversal off this level is required in order to confirm the resistance. In the near term, any pullbacks ahead of the rally to 1320 – 1321 will be seen as bullish in the short term.
