Gold Price Forecast: XAU/USD eases from near $1,860 despite weaker Treasury bond yields Gold XAUUSD Commodities SEO Fed
Powell is due to testify on the semi-annual monetary policy report released on Friday and markets are anticipating some hints on the policy outlook. Therefore, they are resorting to repositioning, gearing up for a significant market reaction to the Fed Chief’s testimony. The sustained pullback in the US Treasury bond yields is also unable to revive the Gold buyers.
Ahead of the key event risks later in the week, Gold traders now await the United States Factory Orders data due later in the North American session for fresh trading impetus. In absence of top-tier US economic data, Gold price will take cues from the broadGold price technical analysis: Daily chart Altenatively, if buyers manage to fight back control, Gold price rally could resume, prodding the mildly bullish 50 DMA resistance at $1,870. Ahead of that level, the $1,858-$1,860 supply zone could be a tough nut to crack for Gold optimists.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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