Gold Price Forecast: XAU/USD prints bullish consolidation near $1,950 amid Fed blackout – by anilpanchal7 Gold XAUUSD Fed China RiskAversion
onday’s Asian session. In doing so, the XAU/USD consolidates the biggest weekly gain since early April amid the Federal Reserve blackout ahead of late July’s monetary policy meeting. Also allowing the Gold buyers to take a breather are the weekend headlines surrounding China, the latest data from the United States and cautious mood ahead of top-tier statistics from Beijing.
Even so, “Fed likely to need two more 25 basis point rate hikes this year,” said Federal Reserve Governor Christopher Waller late Thursday. The policymaker also ruled out concerns about the Fed rate peak while stating the need for two more downbeat inflation numbers in the prepared remarks for delivery before a gathering held by The Money Marketeers of New York University shared by Reuters.
It’s worth observing that the receding fears of the hawkish Fed moves allowed the equities to welcome bulls while the US Treasury bond yields dropped heavily, which in turn drowned the US Dollar Index and fuelled the Gold Price. That said, the DXY marked the biggest weekly fall since November in the last.
Additionally important to watch will be China’s Q2 GDP will join the Industrial Production and Retail Sales for June. Furthermore, US Retail Sales for June and headlines surrounding the US-China ties, as well as the global growth, will be crucial for near-term Gold Price directions.Gold Price extends Friday’s retreat from a seven-week-old descending resistance line, around $1,965 by the press time, by tracking a pullback in the Relative Strength Index line, placed at 14.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Gold Forecast: Markets Consolidate Following Recent SurgeGold markets experienced limited activity during Thursday\u0027s trading session, with prices hovering just above the 50-Day Exponential Moving Average.
Baca lebih lajut »
Updated forecast: Storms deliver scattered wind damage and gorgeous rainbowsMore heat, humidity and storm chances are coming this weekend.
Baca lebih lajut »
Steady rain returns to forecast for Southcentral Alaska this weekendAfter a brief showing of sunshine this week, much of Southcentral Alaska is in for a very wet weekend, according to the National Weather Service.
Baca lebih lajut »
D.C.-area forecast: Hot and humid today ahead of a Sunday cool frontHeat index approaches 100 again today. Some rain is likely with the frontal passage, but the timing is a little uncertain.
Baca lebih lajut »
N.J. weather: State under flood watch, with heavy rain, thunderstorms expected this weekendThe forecast comes after thunderstorms Friday.
Baca lebih lajut »
First Alert Forecast: Hot, humid Saturday; Flood Watch for entire area SundayFirst Alert Weather: It'll be hot and very humid Saturday. We've issued a Red Alert for possible flash floods tomorrow - the entire area is under a Flood Watch. Here's JohnElliottTV's forecast.
Baca lebih lajut »