Gold Technical Outlook: XAU/USD Bulls Regroup at a Critical Pivot Ahead of Fed

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Gold Technical Outlook: XAU/USD Multi-Timeframe Analysis

Gold heads into the Federal Reserve decision with the rate move already priced near 93%, leaving the dot plot to set the direction. Michael Boutros, StoneX Media Senior Market Analyst, walks through gold on the weekly, daily and four hour charts and the scenarios the Federal Reserve projections could produce. Gold has declined nearly 9.4% from its August high and has spent three consecutive weeks straddling the same yearly reference level. The dot plot and the updated Summary of Economic Projections carry the reaction, since the rate move is close to fully priced. Treasury yields, especially the front end of the curve, and the U.S. dollar are how those projections reach precious metals.

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Written by Michael Boutros, Senior Technical Strategist

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