Gold Price Forecast: XAU/USD Bulls are in charge despite hawkish Fed By ross_burland Gold XAUUSD Commodities DollarIndex
at the Fed, this would be potentially supportive of the US dollar and weight for the price of gold. On the other hand, analysts at Rabobank have warned that the Fed could be hiking into recession. The gold price has been range-trading since mid-March, potentially accumulating the 2022 rally and ripening for a bullish continuation.
From a 4-hour perspective, the bullish structure is being carved out and a break beyond $1,970 could be on the cards for the sessions ahead.
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