Gold Price Forecast: XAU/USD holds steady below $1,850 level, awaits Powell’s testimony – by hareshmenghani Gold Commodities SEO Fed XAUUSD
Retreating US bond yields, subdued US Dollar demand, recession fears lend support
Some market participants, however, are unsure about Powell's tone amid expectations that the US economy might be cooling. This, in turn, prompts some repositioning trade, which is evident from a modest pullback in the US Treasury bond yields and keeps the US Dollar bulls on the defensive. Heading into the key event risk, a subdued USD price action lends some support to the US Dollar-denominated Gold price.
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 tumbles below $1850 on elevated US bond yieldsGold price slides 0.26% or $3.00 a troy ounce in the North American session as UST bond yields recover some ground turning positive a headwind for the
Read more »
Gold Price Forecast: XAU/USD bulls focus on Federal Reserve Chairman Powell, United States jobs reportGold price (XAU/USD) began March on a front foot, by posting the first positive weekly close in five. The XAU/USD bulls keep the reins during the earl
Read more »
Gold Price Forecast: XAU/USD needs to surpass $1,865-$1,870 to extend its gainsGold price is seen consolidating its recent gains to a nearly three-week high touched on Friday. FXStreet’s Haresh Menghani analyzes XAU/USD’s technic
Read more »
Gold Price Forecast: XAU/USD eases from near $1,860 despite weaker Treasury bond yieldsGold price is struggling to regain upside traction despite falling Treasury bond yields. US Dollar drops amid repositioning ahead of Federal Reserve
Read more »
Gold Price Forecast: XAU/USD rebounds to $1,850 as Fed's Powell to dodge hawkish guidanceGold price (XAU/USD) has shown a recovery move after a correction to near $1,844.00 in the Asian session. The precious metal has been supported by the
Read more »
AUD Price Forecast: Aussie Dollar Hampered by Chinese GDP ExpectationsThe Australian dollar gave up some of its gains this Monday morning after China’s National People’s Congress (NPC) delivered a more conservative outlook for 2023 GDP. Get your market update from WVenketas here:
Read more »