Gold Price Forecast: XAUUSD floors open for more declines towards $1,850 Gold XAUUSD GDP UnitedStates Fed
“Attention turns towards the all-important preliminary release of the US Q1 growth figures. The American economy is seen expanding 1.1% QoQ in Q1 vs. 6.9% previous. The US GDP data is unlikely to deter the Fed’s rate hike path, which is likely to keep the downbeat tone around Gold Price intact going forward.”
“If the 100-DMA support holds, then a brief pullback towards the March 29 low of $1,890 will be inevitable. The next critical barrier for bulls aligns at $1,900, above which the previous day’s high of $1,907 could be challenged again.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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