Gold Price Forecast: XAU/USD bulls keep the reins ahead of United State Nonfarm Payrolls Gold SEO XAUUSD NFP Fed
Mixed United States data, European Central Bank’s hawkish play weigh on US Dollar and propel XAU/USD price.
price remains firmer as bulls flirt with the $2,050 round figure on the key United States Nonfarm Payrolls Friday. The precious metal’s latest run-up could be linked to the US Dollar’s failure to defend the previous day’s corrective bounce amid mixed clues surrounding the US banking and debt ceiling concerns.Gold price rejoices the Federal Reserve hints to pause the rate hike trajectory after lifting the benchmark interest rates to the highest levels since 2007.
On Thursday, European Central Bank matched market forecasts by announcing a 25 basis points increase in its benchmark. The ECB also announced faster dialing back of its Asset Purchase Programme to around EUR25 billion per month from July, from the current pace of EUR15 billion per month. In return for a smaller rate hike, the ECB chose to remain hawkish and shut the door for rate hike pause while saying, “Inflation outlook continues to be too high for too long.
However, the Western Alliance's shares’ rebound after slumping by nearly 60%, backed by its rejection of concerns suggesting that the bank is exploring strategic options, challenged the previous pessimism.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Gold Price Analysis: XAU/USD bulls eye a break towards all time highs, riding supportGold price is trading around $2,050 and higher by some 0.5% on the day. The bulls have been in the market in a risk-off period in higher volatility ma
Les mer »
Gold Price Forecast: XAU/USD retreats to $2,007 after upbeat ADP reportGold Price dropped from $2,015/oz to $2,007 after the release of the ADP Employment report that showed better-than-expected numbers and boosted the US
Les mer »
Gold Price Forecast: XAU/USD unlikely to see a deeper consolidation, strength to continue – TDSCould a new bull market in Gold kick off at $2,000? Strategists at TD Securities discuss the yellow metal outlook. High bar for a hawkish market react
Les mer »
Gold Price Forecast: XAU/USD to prove resilient to rate hikes – CommerzbankGold price has once again managed to exceed the $2,000 mark ahead of the US Federal Reserve interest rate decision. Economists at Commerzbank analyze
Les mer »
Gold Price Forecast: XAU/USD retreats from record top below $2,100, US NFP eyedGold price (XAU/USD) eases to around $2,055 after refreshing the all-time high to $2,080 during the early hours of Thursday‘s Asian session. The yello
Les mer »
Gold Price Forecast: XAU/USD set to reach new record highs above $2,070/75 – Credit SuisseGold is still stalling in a range from just ahead of pivotal resistance from its $2,070 and $2,075 record highs. But economists at Credit Suisse stay
Les mer »