Gold Price Forecast: XAU/USD stays depressed as upbeat United States data propel US Dollar Gold XAUUSD SEO Fed Macroeconomics
t for the yellow metal’s latest losses could be linked to the United States economics which renew hawkish bias for the Federal Reserve . Also weighing on the XAU/USD could be the headlines surrounding India and China, as well as a lack of major data/events ahead of the next week’s Minutes of the latest Federal Open Market Committee monetary policy meeting.Upbeat statistics from the United States have recently pushed back the calls for the Federal Reserve’s policy pivot.
Other than the Federal Reserve concerns, the mixed headlines surrounding the Gold imports from India and China, as well as the latest geopolitical tension between the US and China, also seems to weigh on the XAU/USD price. It should be noted that India and China are the world’s leading Gold consumers.
. “I think the last thing that Xi wants is to fundamentally rip the relationship with the United States and with me," said US President Biden per Reuters.Apart from what’s already mentioned above, a lack of major data and events ahead of the next week’sMeeting Minutes for the Federal Open Market Committee’s latest action also seems to keep the Gold bears on the driver’s seat.
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