Gold Price Forecast: $1,890 could come under pressure to give out for a deep correction By ross_burland Gold Commodities DollarIndex RussianFederation
A break of $1,890 could be on the cards for the opening sessions.
XAU/USD ranged between $1,886.66 and $1,902.54 on Friday ending flat on the day while more warnings from the US that a Russian invasion is imminent continued to put pressure on risk sentiment on Friday night, with developments likely to be a key driver of markets, analysts at ANZ Bank said. ''The US has warned that multiple cities could come under attack, causing significant civilian casualties, while Russia continues to deny any plans to invade.
For the week ahead, there is plenty going on from the economic calendar. We will have a chorus of Fed speakers and the PCE report as well as Markit PMIs. ''Fed officials will remain occupied this week trying to guide the market ahead of the March FOMC meeting and following signs of persistent data strength in Q1, particularly on inflation,'' analysts at TD Securities said.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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