Gold Price Forecast: XAU/USD rebound approaches $1,850 hurdle on China, yields favor DXY retreat Gold XAUUSD YieldCurve China Fed
l pares the longest daily fall in a fortnight by taking clues from cautious optimism in the markets and a retreat of the US Dollar.
It should be noted that the World Gold Council’s update suggesting China’s heavy Gold imports in 2022, the biggest since 2018, also seemed to have put a floor under the XAU/USD price, especially after the previous day’s fall.bias and a run-up in the US Treasury bond yields seem to challenge the Gold buyers.
Moving on, Gold traders should pay attention to second-tier US data concerning the housing market, industrial activity and producer prices for fresh impulse.Despite the latest rebound of the Gold price, a two-week-long descending resistance line, around $1,850 by the press time, challenges the buyers. Also doubting the upside bias is the bearish MACD signals and the downbeat RSI , but not oversold.
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