Gold Price Forecast: XAU/USD retreats towards $1,960 as yields rebound, Federal Reserve eyed Gold XAUUSD SEO Fed RiskAversion
Joint central bank actions to propel US Dollar liquidity, UBS-Credit Suisse deal enable United States Treasury bond yields to recover.XAU/USD traders should also observe preliminary readings of March month Purchasing Managers’ Index. takes offers from the Year-To-Date high while targeting the previous resistance surrounding $1,960, near $1,976 by the press time of early Monday in Asia.
On the same line were the comments from the US Federal Deposit Insurance Corporation mentioning that the deposits of Signature Bridge Bank will be assumed by a subsidiary of New York Community Bancorporation. Furthermore, the Bank of Canada, Bank of England, Bank of Japan, European Central Bank, Federal Reserve, and Swiss National Bank are all up for announcing joint actions to provide more liquidity via standing US dollar liquidity swap line arrangements.
In addition to the downbeat US data, mixed statistics from China, the world’s second-largest economy, also raised market fears and allowed the Gold price to remain firmer. It should be noted that the stocks in Europe and Asia portrayed a risk-off mood but those in the US gained in the last week.
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