Gold Price Forecast: XAU/USD is in pressure mode as markets reassess banking crisis, inflation woes Gold SEO XAUUSD Inflation RiskAversion
Traders recheck previous optimism surrounding banking environment and prod XAU/USD buyers.
On the other hand, Wall Street closed with mild losses and the US Treasury bond yields managed to recover but the failed to improve as hawkish Fed bets eased. That said, CME’s FedWatch Tool suggests market players placing near 65% bets on another 0.25% rate hike for May 03 meeting. To sum up, the Gold price remains indecisive despite the latest rebound and hence traders should wait for clear directions before taking any major positions.Gold price reverses its pullback from a multi-month-old ascending resistance line while bouncing off the 10-DMA. However, the receding strength of the bullish signals on the Moving Average Convergence and Divergence indicator tests the Gold buyers.
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