Gold Price Forecast: XAU/USD bulls could emerge ahead of Federal Reserve Gold SEO Currencies DollarIndex Fed
he European Central Bank as the key events, the Bank of England and also the United States of America jobs data. The Gold price is down some 0.29% so far having lost territory from a high of $1,934.56 and running into a low of $1,920.74 so far.
The US Dollar and US Treasury bond yields rose ahead of this week's meeting of the Federal Reserve's policy committee. The markets are pricing in a 25 basis point hike but they are also looking for the benchmark rate to peak at 4.93% in June, up from 4.33% now. There are also calls for the central bank to cut it to 4.52% by December.
Analysts at Brown Brothers Harriman argued that headline Personal Consumption Expenditure inflation of 5.0% YoY in December is still running more than double the Fed’s 2% target.
will be key and the expectation is a rise to 3.6% from 3.5% in December which would be likely damaging to the US Dollar and supportive of the Gold price.
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