Gold Price Forecast: XAU/USD bulls stay involved despite weak close on Wall Street Gold SEO Commodities Fed DollarIndex
higher and faster after a series of strong economic reports showed the economy continues to run hot. Consequently, market expectations for a 50 basis point rate hike from the Federal Reserve shot higher.
''After all this repricing, an easing cycle is still expected to begin in the fourth quarter, albeit at much lower odds. Eventually, it should be totally and unequivocally priced out into 2024 during the next stage of Fed repricing,'' the analysts added and said, ''for now, we believe the uptrends in US yields and the US Dollar remain intact.
''Price pressures were intense and broad-based in January, more so than in previous months. A potential sign that inflation pressures are intensifying again,'' analysts at ANZ Bank said. ''Annual revisions to the CPI seasonal factors by the BLS show inflation over the course of H2 2022 did not ease as much as initially reported. This means the Fed is facing a more persistent sticky inflation battle than it thought earlier this year,'' the analysts argued.
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