Gold Price Forecast: XAU/USD approaches $1,807 hurdle ahead of United States Nonfarm Payrolls – by anilpanchal7 Gold XAUUSD NFP Fed SEO
yellow metal portrays the market’s cautious mood ahead of the key catalysts. Also likely to have probed the Gold buyers could be the recently mixed updates from the Fed, as well as the data from the United States.The dovish bias of the Federal Reserve Chairman, as well as downbeat comments from US Treasury Secretary Janet Yellen, initially raised hopes of easy rate hikes.
It’s worth noting, however, that the Bank of Japan’s hints of adjusting the easy money policies seemed to have challenged the bond yields of late amid fears of less demand from the biggest customer in Asia. Forecasts suggest that the headlines Nonfarm Payrolls is likely to ease with a 200K print versus 261K prior while the Unemployment Rate could remain unchanged at 3.7%. It should be noted that a likely easing in the Average Hourly Earnings for the stated month could also weigh on the Gold price.
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