Gold Price Forecast 2020: XAU/USD bulls likely to remain in control

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By Omkar Godbole

xau/usd

  • Gold price has put on a good show in 2019 on dovish Fed, trade war and recession fears.
  • Fed's willingness to allow inflation to run hot and balance sheet expansion could keep gold better bid in 2020.
  • XAU/USD price technical charts are reporting a bullish continuation pattern.

Gold looks set to end the year with double-digit gains and is likely to maintain its upward trajectory in 2020.
At press time, the yellow metal is trading at $1477 per Oz, representing 15.25% gains on a year-to-date basis. Anything above 13.2% would be the biggest yearly gain since 2010 when prices had rallied by 29.6%. 
 


Trade war, recession fears and dovish Fed pushed gold price higher in 2019

The year gone by will be remembered for the US-China trade war escalation, persistent recession fears and more importantly, for the US Federal Reserve’s remarkable dovish U-turn. 

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