Gold price (XAU/USD) holds steady above the $2,500 psychological mark during the Asian session on Thursday and remains close to the all-time peak touched earlier this week.
Gold price remains confined in a familiar range held since the beginning of the current week. A positive risk tone caps the upside, though a combination of factors continues to lend support. Fed rate cut bets, along with geopolitical risks, should help limit any meaningful corrective slide. Gold price holds steady above the $2,500 psychological mark during the Asian session on Thursday and remains close to the all-time peak touched earlier this week.
Technical Analysis: Gold price might continue to attract dip-buyers, $2,480 throwback holds the key for bullish traders From a technical perspective, the range-bound price action witnessed since the beginning of this week could be categorized as a bullish consolidation phase before the next leg up. Moreover, oscillators on the daily chart are holding in positive territory and are still away from being in the overbought zone, validating the near-term constructive outlook.
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