Gold Price Forecast: XAU/USD bulls can ignore upbeat yields amid banking woes, mixed sentiment Gold XAUUSD SEO Fed Banks
Treasury bond yields. However, fears of the US banking fallouts and indecision about the Federal Reserve’s next step allow the XAU/USD to grind higher.Gold price remain on the buyers’ list due to the metal’s haven demand amid looming bank fears. In its quarterly bank loan survey, the Federal Reserve said, “On balance, tighter standards and weaker demand for commercial and industrial loans to large and middle-market firms, as well as small firms, over the first quarter.
On the other hand, Chicago Federal Reserve Bank President Austan Goolsbee said, "We should be extra-attuned to issues in the bond market related to the debt limit." Regarding the Fed's policy outlook, Goolsbee reiterated that it was too early to say what the next policy move will be, explaining that there were a lot of uncertainties regarding the impact of credit tightening on the economy.
licks its wounds around the Year-To-Date lows. As a result, the Gold price remains indecisive but stays on the buyer’s radar amid cautious markets.Gold price picks up bids to reverse the previous week’s retreat from the all-time high, as well as a U-turn from an upward-sloping resistance line from March 20, close to $2,085 by the press time.
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