This downward trend is impacted by anticipated changes in Federal Reserve interest rate increases, higher U.S. Treasury yields and easing consumer inflation. These factors took XAU/USD to a 10-day low of $1,956.81. Demand for safe-haven assets such as gold has been limited due to positive market sentiment reflected in Wall Street's gains.
Investors are closely watching these developments and are awaiting a speech from Fed Chairman Jerome Powell to provide guidance on future interest rates as well as the prospect of more rate hikes this year to achieve the Fed's 2% inflation target.
Gold prices are under high pressure from the market when the Fed's stance is unclear.
Fed Chairman Powell will give a speech on monetary policy at the Jacques Polak Conference tomorrow morning.
Everyone continues to talk about bringing inflation to 2% in the near future, with a high possibility that the Fed will continue to raise interest rates.
Investors are closely watching these developments and are awaiting a speech from Fed Chairman Jerome Powell to provide guidance on future interest rates as well as the prospect of more rate hikes this year to achieve the Fed's 2% inflation target.
Gold prices are under high pressure from the market when the Fed's stance is unclear.
Fed Chairman Powell will give a speech on monetary policy at the Jacques Polak Conference tomorrow morning.
Everyone continues to talk about bringing inflation to 2% in the near future, with a high possibility that the Fed will continue to raise interest rates.
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✔️TP1 : 1945
✔️TP2 : 1940
❌SL: 1955