Gold retreated marginally from all-time highs as US T-bond yields edged higher. Near-term technical outlook shows XAU/USD is still overbought. The Fed will announce policy decisions and publish the dot plot this week.
On the flip side, the $2,178-2,180 region now seems to have emerged as an immediate strong barrier, which if cleared should allow the Gold price to challenge the record peak, around the $2,195 area touched last week. Some follow-through buying beyond the $2,200 mark will be seen as a fresh trigger for bullish traders and set the stage for the resumption of a well-established uptrend witnessed since the beginning of this month. Confirm signal
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