Gold price extends a three-day losing streak on the Fed decision day. US Dollar holds recovery alongside US Treasury bond yields amid the market caution. Gold price appears a ‘buy on dips’ trade, as daily technical setup still favors buyers. A typical pre-Federal Reserve (Fed) decision caution prevails across the financial markets, keeping the buoyant tone intact around the safe-haven United States Dollar (USD).
Therefore, Fed Chair Jerome Powell’s words on the future interest rate path and on the economic and inflation outlook will hold the key for a fresh lift in the US Dollar. Markets are expecting the Fed to leave the door open for one more rate hike amid a resilient US economy, tight labor market conditions and elevated inflation level.
Gold Price Forecast: XAU/USD to soar on a regional escalation of the Middle East conflictGold should remain a good hedge, despite worries that rates will remain higher for longer, economists at UBS report. Read more ⮕
Gold Price Forecast: XAU/USD to see another leg higher once above hurdle at $2,070/$2,075Gold has regained upward momentum. Strategists at Société Générale analyze the yellow metal’s technical outlook. Read more ⮕
Gold Price Forecast: XAU/USD dips below $2000 as Middle East conflict fears easeGold price (XAU/USD) fell below the $2000 mark late in the New York session, registering losses of 0. Read more ⮕
Gold Price Forecast: XAU/USD remains capped below the $2,000 barrier, Chinese PMI data loomsGold price (XAU/USD) consolidates below the $2,000 psychological mark during the early Asian session on Monday. Read more ⮕
Gold Price Forecast: XAU/USD bullish potential remains intact, focus shifts to FedGold price Is catching a breather below $2000 early Tuesday, having corrected sharply from near five-month highs on Monday. Read more ⮕
Gold Price Forecast: XAU/USD to move sustainably into $2,100 territoryGold moved into $2,000 territory in response to rising geopolitical risks. Read more ⮕