Gold Price Forecast: XAU/USD rebounds to $1,700 with eyes on US inflation, Fed Minutes – by anilpanchal7 Gold XAUUSD Fed Inflation RiskAppetite
Hawkish Fed bets, geopolitical concerns underpinned the US dollar’s demand.Softer inflation numbers may probe bears but Fed hawks could weigh on XAU/USD.
Considering the firmer US data and hawkish Fedspeak the market expectations of witnessing a 0.75% rate hike in the next Federal Open Market Committee became stronger of late. Elsewhere, downbeat EU PMIs and the European Central Bank’s Monetary Policy Accounts showing support for the 50 basis points rate hike, versus 0.75% announced, also favored the US dollar and weighed on the XAU/USD prices.
Moving on, Monday’s holiday in the US, Canada and Japan could restrict the metal’s momentum while allowing the bears to keep the reins. However, the US FOMC Minutes and US
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