Gold Price Forecast: XAU/USD bulls eye $1,965 as US Dollar resists welcoming Federal Reserve hawks Gold XAUUSD Fed Recession SEO
Hawkish Federal Reserve comments fail to underpin US Dollar rebound despite poking XAU/USD bulls.
raised fears of an economic slowdown in the world’s largest economy after the softer wage growth and activity data flashed earlier.of New York President John Williams said that the US central bank has more rate hikes ahead and sees signs inflationary pressures might be starting to cool off from torrid levels. Late Thursday, Fed Vice Chair Lael Brainard said that it will take time and resolve to get high inflation down to the fed's 2% target.
It’s worth noting, however, that the overbought conditions of the Relative Strength Index line, placed at 14, suggest that the Gold buyers need to keep the reins beyond the early month high surrounding $1,930 to aim for the late March 2022 peak of $1,966. Alternatively, the 10-day Exponential Moving Average restricts the metal’s immediate downside near $1,902 before the aforementioned horizontal support area of $1,895-90.
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