Gold Price Forecast: XAU/USD attemps to correct against strong headwinds – by fx_ross Gold DollarIndex Currencies Commodities Fed
At $1,735, the yellow metal is still down 0.7% on the day so far and has travelled between a low of $1,727.85 and $1,749.09.
In the build-up to the Jackson Hole, there has been a chorus of speakers from the Fed, and last week was particularly busy in that respect. The most hawkish of Fed officials was Bullard who expressed a desire for a 75bp hike at September's meeting and added he isn’t ready to say the economy has seen the worst of the inflation surge.
''Shanghai traders have also been unwinding their recent length, with lockdowns and industrial woes likely to weigh on Chinese demand,'' analysts at TD Securities said. ''Our tracking of positioning for the top ten traders in Shanghai suggests they have sold nearly 40,000 SHFE lots of If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD sees establishment below $1,750 as focus shifts to Jackson HoleGold Price Forecast: XAU/USD sees establishment below $1,750 as focus shifts to Jackson Hole – by Sagar_Dua24 Gold XAUUSD Fed ApparelDurables Inflation
Read more »
Gold Price Forecast: XAU/USD downside is slowing as price corrects from fresh lowsThe gold price is correcting higher in Asia but remains pressured in the grander scheme of things. It has hardened to $1,746. The focus is on the US d
Read more »
Padres notes: Ha-Seong Kim's sacrifice, Joe Musgrove looking for goldHa-Seong Kim makes incredible play in foul territory in Padres victory over Nationals
Read more »
Gold Price Forecast: XAU/USD to test $1,700 on a close below 50 DMA at $1,744Gold price is consolidating the recent run of declines near four-week lows below $1,750. Will XAU/USD bulls defend the 50% Fibo support? FXStreet’s Dh
Read more »
Gold Futures: Scope for extra retracementOpen interest in gold futures markets rose for the third session in a row on Friday, this time by around 1.5K contracts according to preliminary readi
Read more »
Gold Forecast: Looking at Noisy BehaviorSpot gold markets have fallen roughly \u00BD% for the trading session on Friday, as we are threatening the $1750 level.
Read more »