Gold Price Forecast: XAU/USD stays defensive above $1,800 ahead of United States Nonfarm Payrolls Gold XAUUSD SEO NFP Fed
That said, the yellow metal’s latest inaction could be linked to an absence of major surprise from the market, as well as a cautious mood ahead of Friday’s key United States employment report for February. However, the widest yield curve inversion since 1981 joins the hawkish rhetoric from Fed Chair Jerome Powell to keep the XAU/USD bears hopeful.
Elsewhere, the US removed testing restrictions on travelers from China and joined a light calendar to allow the traders to lick their wounds after a volatile Tuesday. However, a clear downside break of the 3.5-month-old ascending trend line joins the impending bear cross on the Moving Average Convergence and Divergence indicator to keep the XAU/USD sellers hopeful.
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