Gold Price Forecast: XAU/USD bears step in and eye a break of support structure Gold Technical Analysis Fed DollarIndex Commodities
, where a correction was expected ahead of the Federal Reserve, we have seen two 'way business into and around the event.
The Federal Reserve´s dovish interest rate decision when the central bank announced its 25 bp rate hike flagged “some additional policy firming” with the dot plot median pointing to one more hike. Before today´s event, markets were pricing in a year-end target rate of 4.36%. This has dropped in volatile reactions to the statement to 4.26%. At the time of writing, US 2-year Treasury yields are down to 4.77%, dropping from 4.259% on the day to print a low of 3.958%.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD bears are stepping in below $2,000The Gold price is carving out a topping pattern below the highs of the $2,000s that were scored at the start of this week. At the time of writing, Gol
Read more »
Gold Price Forecast: XAU/USD bears pile in and eye-up the FedGold price sold off nicely on Tuesday in textbook fashion as the technical analysis below illustrates. The yellow metal dropped from a high of $1,970
Read more »
Gold Price Forecast: XAU/USD lures bears as Federal Reserve verdict looms, banking fears recedeGold price (XAU/USD) portrays the pre-event anxiety as it dribbles around $1,942-45 on the key Federal Reserve (Fed) Interest Rate Decision Day. The p
Read more »
Gold Price Forecast: XAU/USD to see another run higher on a sustained break above $2,000Gold price consolidates previous losses. XAU/USD has more room to the upside on acceptance above $2,000, FXStreet’s Dhwani Mehta reports. Retracement
Read more »
Gold Price Forecast: XAU/USD grinds beyond $1,940 support, banking crisis, Federal Reserve in focusGold price (XAU/USD) struggles for clear directions around $1,980, following a pullback from the yearly high above $2,000, as markets slip into the ca
Read more »
Gold Price Forecast: Improved risk appetite unlikely to deter further inflows into XAU/USD – ANZGold breached $2,000 as investors continued to increase their exposure to the precious metal. Improved risk appetite should not dissuade investors to
Read more »