Gold Price Forecast: XAU/USD sticks to modest gains above $2,000, lacks follow-through – by hareshmenghani Gold Commodities Fed Bonds XAUUSD
Governor Christopher Waller on Friday called for further rate hikes and said that the job was still not done as inflation remains far too high. The markets were quick to react and are now pricing in a greater chance of another 25 basis point lift-off at the next Federal Open Market Committee policy meeting in May.
On the flip side, bulls might now wait for some follow-through buying beyond the $2,020 area before placing fresh bets. The might then climb to the YTD peak, around the $2,047-$2,049 region touched last Thursday. The subsequent move up has the potential to lift the XAU/USD back towards retesting the all-time high, around the $2,070-$2,075 region touched in August 2020.
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