Gold Price Forecast: XAU/USD recovers further from two-month low, climbs back above $1,950 – by hareshmenghani Gold Commodities Fed Inflation XAUUSD
Hawkish Fed expectations, meanwhile, push the yield on the rate-sensitive two-year US government bond to a two-and-half-month high and support prospects for the emergence of some US dip-buying. This, in turn, might hold back traders from placing aggressive bullish bets around the non-yielding Gold price ahead of the release of the US Personal Consumption Expenditures Price Index, due later during the North American session.
On the flip side, bearish traders might now wait for a sustained break below the 100-day SMA, currently pegged near the $1,935 region, before placing fresh bets. This will set the stage for an extension of the recent retracement slide from the all-time high touched earlier this month and drag Gold price to the $1,900 round-figure mark
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