Gold Price Forecast: XAU/USD bulls attack $2,000 amid banking, United States default woes Gold XAUUSD SEO Banks RiskAversion
its from the risk aversion wave, mainly led by the fresh banking fears and woes surrounding the United States debt ceiling expiration, as well as the Federal Reserve’s policy pivot. It’s worth noting that the XAU/USD run-up pays little heed to the US Dollar’s recent recovery ahead of the US Durable Goods Orders for March.Gold price rises for the third consecutive day inside a one-month-old bullish trend channel as downbeat sentiment provides a tailwind to the XAU/USD’s haven demand.
On Tuesday, the First Republic Bank’s disappointing earnings reports joined the executives’ resistance in taking questions and no earnings guidance to trigger a fresh wave of banking jitters. Even so, the major central banks tried to restore market confidence by curtailing the US Dollar operations initiated during the first wave of the banking crisis. “The world's top central banks are cutting the frequency of their dollar liquidity operations with the U.S.
Apart from the banking crisis, fears of US debt ceiling expiration also weigh on the risk appetite as the current limit expires in June.
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