Gold Price Forecast: XAU/USD bulls take a breather, banking updates, US inflation eyed Gold XAUUSD SEO Inflation Fed
United States Nonfarm Payrolls, hawkish Federal Reserve talks prod XAU/USD bulls.Survey report on US banks, inflation data eyed for further guide.price seesaws around $2,016 during a dull Monday, after posting the first daily loss in four and two-week uptrend.
Following the upbeat US employment report, St. Louis Federal Reserve President James Bullard, who supported the 25 basis point rate hike that the Fed took last week, called it "a good next step." The policymaker cited significant amount of inflation in the economy and "very tight" labor market to back his hawkish bias. His comments renew hopes of a one more 0.
Gold price’s failure to provide a daily closing beyond a three-month-old ascending resistance line, around $2,068 by the press time, joined the overbought conditions of the Relative Strength Index line, placed at 14, to witness a pullback on Friday.
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