Gold Price Forecast: XAU/USD moves away from multi-week top, remains depressed below $1,900 – by hareshmenghani Gold Commodities Fed SEO XAUUSD
, or its highest level since early February. The intraday downfall remains uninterrupted through the first half of the European session and drags the XAU/USD to a two-day low, around the $1,885 region in the last hour.Despite concerns over a banking crisis in the United States , investors seem convinced that the Federal Reserve might still go ahead with a smaller 25 basis point rate hike at its upcoming policy meeting on March 21-22.
This, in turn, is seen as a key factor weighing on the non-yielding Gold price.The prospect for further policy tightening by theis reinforced by the ongoing rally in the US Treasury bond yields, which, in turn, lends support to the US Dollar . This further contributes to driving flows away from the non-yielding Gold price.
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