Gold Price Forecast: XAU/USD hangs near YTD low, just above $1,660 amid stronger USD – by hareshmenghani Gold Commodities Fed Recession XAUUSD
w week. The XAU/USD continues losing ground through the early European session and drops to a fresh daily low, around the $1,660 area in the last hour.
In fact, the markets have been pricing in a small chance of a full 100 bps rate increase at this week's FOMC meeting. This remains supportive of elevated US Treasury bond yields, which continue to act as a tailwind for the greenback and contributes to driving flows away from the non-yielding yellow metal.
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