Gold Price Forecast: XAU/USD licks its wounds ahead of Federal Reserve’s preferred inflation – by anilpanchal7 Gold XAUUSD SEO Fed Inflation
ow metal stays bearish amid hawkish hopes from the Federal Reserve , especially after the firmer United States statistics. That said, the quote’s latest rebound could be linked to the US Dollar’s retreat as traders await the key US Core Personal Consumption Expenditure -United States data renew hawkish Federal Reserve bets, weigh on Gold price
That said, the US Senate’s passage of a $1.7 trillion government funding bill and the latest comments from US President Joe Biden showing readiness to tame inflation also add filters to the Gold price moves.Although the recent inaction in the market allows Gold traders to portray indecision, the likely upbeat prints of the US inflation and output-related data could allow the XAU/USD bears to tighten their grip.
That said, the Gold price can ignore the latest rebound unless the commodity stays below a convergence of the 50-SMA and previous support line from December 16, close to $1,799 by the press time. Also challenging the upside filter is the $1,800 threshold.
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