Gold Price Forecast: XAU/USD rebound needs validation from $1,730 and Fed Chair Powell – by anilpanchal7 Gold XAUUSD Fed RiskAppetite Recession
marks the biggest daily loss in 12 days, down 0.30% intraday around 106.90 by the press time, as risk appetite improves amid chatters surrounding the US-China ties and the European energy crisis.
Moving on, risk catalysts and the US Durable Goods Orders for June, expected -0.4% versus 0.8% prior, could entertain gold traders ahead of the Federal Open Market Committee meeting. It should be observed that the market has already priced in the Fed’s 75 basis points rate hike and hence Fed Chair Powell needs to do more to lure the XAU/USD bears.
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