Gold Price Forecast: XAU/USD stays defensive below $1,750 amid China, Fed concerns – by anilpanchal7 Gold XAUUSD Fed China Coronavirus
latest inaction could be linked to the failures to cross the short-term crucial support line, as well as the mixed signals received from the markets.
Richmond Federal Reserve Bank President Thomas Barkin recently mentioned that he supports smaller interest-rate hikes ahead as the central bank moves to bring down too-high inflation. Previously, Cleveland Fed President Loretta Mester marked the need to see several more good inflation reports and more signs of moderation to back the pause in rate hikes. On the same line, St.
Amid these plays, S&P 500 Futures print mild gains despite Wall Street’s downbeat closing whereas the US 10-year Treasury yields remain pressured around 3.69% at the latest. With this, the yellow metal’s downside break of the stated support line, close to $1,740, immediately precedes the metal’s fall toward the 100-day Exponential Moving Average surrounding $1,726.
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