Gold (XAU/USD) began the week on a muted trajectory, following a two-day decline that saw prices retreat from a recent three-week high. The precious metal's exchange rate is under pressure as the U.S. Dollar Index (DXY) gains ground, reflecting an overall strengthening of the USD. Traders are recalibrating their positions amid fading expectations for a Federal Reserve rate cut in December, influencing market sentiment.
As gold consolidates its losses, the technical outlook signals potential resistance around the $1,950 level, with support observed near $1,930. The recent fluctuations highlight the delicate balance between inflation concerns and monetary policy expectations, which could continue to sway trading dynamics in both the gold market and broader currency pairs, including USD/EUR. Investors will be watching closely for further indicators that could impact the gold price as the week unfolds.
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Data Source: FX Killer Analysis Team Updated: 2025-11-17 12:40
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.