Gold Price Forecast: XAU/USD rebounds ahead of United States data, Federal Reserve talk – by anilpanchal7 Gold XAUUSD Fed SEO Inflation
and the Swiss National Bank , the majority of the key central banks announced 50 basis points of rate hikes the last week. Although the rate lift was smaller than the previous moves, the policymakers’ readiness to defend the higher rates for the longer time seemed to have teased the Gold sellers. of Cleveland President Loretta Mester and New York Federal Reserve President John Williams.
In doing so, the yellow metal again approaches the $1,808-10 resistance confluence including the seven-month-old horizontal region and the 50% Fibonacci retracement level of the Gold’s April-September downside. Even if the XAU/USD crosses the $1,810 hurdle, the 61.8% Fibonacci retracement level, also known as the “Golden Ratio”, around $1,852, will precede the June 2022 peak surrounding $1,880 to challenge the Gold buyers.
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