Gold Price Forecast: XAU/USD reaches new week high on soft US Dollar, post-Fed minutes – by christianborjon Gold XAUUSD Metals Macroeconomics SEO
tes , with Wall Street and the bond market closed. Factors like Federal Reserve policymakers agreeing to moderate interest-rate increases and a risk-on mood keep the US Dollar on the defensive. Therefore,Federal Reserve minutes a headwind for the US Dollar
Aside from this, US Treasury yields extended their losses, with the 10-year T-bond yield dropping six bps, down to 3.70%, a tailwind for the Gold price, undermining the USD. Meanwhile,Gold Price Analysis : Technical outlookperspective, XAU/USD is neutral-upward biased. However, Gold stays below the “trendsetter” 200-day Exponential Moving Average , used as confirmation for bullish/bearish bias in the long term.
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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