Gold Price Forecast: XAU/USD bears need a break of current daily lows Gold XAUUSD Fed DollarIndex
The focus has been on the Federal Reserve which issued a hawkish outlook for interest rates on Wednesday even as it ended its two-day meeting without hiking rates. The Fedwill need to see softening in the labour market to be confident that inflation is sustainably on its way down. Little guidance was offered for upcoming meetings, with Fed Chair Powell noting decisions will be made meeting to meeting. We continue to expect a 25bp hike in July,'' analysts at ANZ Bank argued.
, where current prices could spark a buying program totaling +6% of this cohort's max size. In gold markets, the bar for algo buying activity is also razor-thin. Prices need only break the $1980/oz mark to spark the first marginal buying program, and the risk for subsequent buying flows is elevated above the $2000/oz range,'' analysts at TD Securities argued.
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