Gold Price Forecast: Bullish pennant, Ukraine woes favor XAU/USD bulls above $1,900, US NFP eyed

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Gold Price Forecast: Bullish pennant, Ukraine woes favor XAU/USD bulls above $1,900, US NFP eyed
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Gold Price Analysis: Bullish pennant, Ukraine woes favor XAU/USD bulls above $1,900, US NFP eyed By anilpanchal7 Gold Ukraine NFP Fed Commodities

Market sentiment remains sour as Russia fails to respect peace talks by shelling Ukrainian nuke plant.US February Nonfarm Payrolls Preview: Analyzing gold's reaction to NFP surprises

On the same line were headlines from the UK Times suggesting that Ukraine’s President Volodymyr Zelensky survives three assassination attempts in days.Chair Jerome Powell reiterated his support for a 0.25% rate hike, actually showed readiness for a 0.50% rate-lift in the March meeting, during the second round testimony the previous day.

eases after refreshing the 2022 peak while WTI crude oil also consolidates daily gains near $110.00 after initially rising to $112.81., suggesting more upside, while the US Nonfarm Payrolls, expected 400K versus 467K prior, will be crucial to watch as well.Gold pierces the upper line of a one-week-old bullish pennant chart formation, backed by the receding bearish bias of MACD and firmer RSI line.

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