Gold Price Forecast: XAU/USD oscillates above $1,800 ahead of US ISM PMI, DXY rebounds By Sagar_Dua24 Gold XAUUSD Fed Inflation DollarIndex
index has rebounded modestly. Considering the price action, the gold prices are expected to violate $1,800.00 and the bears will show their true colors.
Traders should understand the fact that the commentary from Federal Reserve chair Jerome Powell in his speech at ECB’s annual Forum on Central Banking has underpinned the DXY for a prolonged period. Fed Powell mentioned that the Fed will focus on returning the inflation rate at 2% by deploying the quantitative measures but there is no guarantee of that.
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