Gold Price Forecast: XAU/USD plunges below the 20-day EMA post-Fed hawkish minutes – by christianborjon Gold XAUUSD Metals
Gold prices take a hit, dropping below the 20-day EMA, after the Federal Reserve hints at a potential rate hike in July.
Despite a unanimous decision for a June pause, officials’ concerns over a tight labor market point to a looming rate increase. The greenback is staging a comeback, a headwind for Gold. The US Dollar Index rises 0.29%, at around 103.370, while US Treasury bond yields are soaring, with the 10-year benchmark note rate at 3.945%, gaining eight and a half basis points . Money market futures speculate the Fed will raiseSummary of the FOMC’s June meeting minutes
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