Gold Price Forecast: XAU/USD struggles to defend $1,800 at monthly low amid Fed fears By anilpanchal7 Gold XAUUSD Fed Inflation YieldCurve
first daily gains in three while preparing for the US Federal Reserve’s monetary policy decision. Also favoring the corrective pullback from the monthly low is the retreat in the US Treasury yields and mildly bid US stock futures.
Alternatively, pressure from the US diplomat to battle inflation and improve balance sheet join updates surrounding Taiwan and China’s covid conditions to challenge gold’s rebound. Further, Beijing reported the highest coronavirus cases in three weeks the previous day and called for more activity restrictions. Shanghai, on the other hand, marked ease into the COVID-19 cases but keeps the recently announced limits to curb the virus from spreading too fast. matched 0.8% MoM forecasts for May, also easing to 10.8% YoY figures versus 10.9% expected and prior readouts. The PPI ex Food & Energy, known as Core PPI, dropped below 8.6% YoY forecasts to 8.3%.
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