[GOLD Price] Technical Analysis & Commodities Market News – April 29, 2021 | Capital Street FX

Here is our GOLD Price forecast! Is the GOLD Price uptrend ending, or is there still more room for the Dollar to rise? Let’s find out.

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Latest Stock Market News –

1. Gold was up on Thursday morning in Asia on the back of the U.S. Federal Reserve maintaining its easy monetary policy as it handed down its latest policy decision. A weakening dollar provided further support to the safe-haven yellow metal.

2. Gold futures were up 0.59% to $1,784.45 by 12:42 PM ET (4:42 AM GMT). The dollar, which usually moves inversely to gold, inched down on Thursday.

3. The Fed kept its interest rate unchanged at 0.25%, and kept its bond-buying program steady when it handed down its decision on Wednesday. Fed Chairman Jerome Powell also reiterated his dovish stance on interest rate hikes, insisting that any inflation is temporary.

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