Gold Price Forecast: XAU/USD downside appears difficult even as US NFP favors Fed hawks Gold XAUUSD Fed NFP RiskAversion
Gold Price remains pressured towards short-term key support after snapping three-week downtrend with minor gains.
remains slightly positive. The reason could be linked to the mixed details of the US employment report for May.Nonfarm Payrolls Amid these plays, the United States Treasury bond yields and the US Dollar marked the first weekly loss in four while Wall Street closed on the positive side, which in turn keeps the riskier assets and the Gold Price on the buyer’s radar.
The reason could be linked to the below 50.0 levels of the Relative Strength Index line, placed at 14, as well as an 11-week horizontal support zone near $1,937-32 that also comprises the previous resistance line stretched from early May.
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