Gold Price Forecast: XAU/USD hits fresh two-month peak, seems poised to appreciate further – by hareshmenghani Gold Commodities Fed Inflation XAUUSD
The XAU/USD currently trades around the $1,984-$1,985 region and seems poised to prolong its recent steady upward trajectory witnessed over the past three weeks or so. struggles to capitalize on its recent recovery from the lowest level since April 2022 and retreats further from a one-week high touched on Wednesday. This, in turn, is seen lending some support to the US Dollar-denominated Gold price.
Apart from this, concerns over a global economic slowdown, the worsening US-China ties and geopolitical tensions lend additional support to the safe-haven Gold price. China's ambassador to Washington said on Wednesday that China does not want a trade or tech war but will respond if the US imposes more curbs on imports of equipment to make advanced chips.
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