Gold Price Forecast: XAU/USD ticks lower on modest US Dollar strength, downside seems limited – by hareshmenghani Gold Commodities CentralBanks Recession XAUUSD
Hawkish central banks and a modest US Dollar strength act as a headwind for the metal.ticks lower on the first day of a new week and trades with a mild negative bias, just below the $1,955 level heading into the European session.
The Federal Reserve last week signalled that borrowing costs may still need to rise by as much as 50 basis points by the end of this year, which assists the US Dollar to gain some positive traction for the second successive day. In fact, the USD Index , which tracks the Greenback against a basket of currencies, looks to build on Friday's modest bounce from over a one-month low and acts as a headwind for the US Dollar-denominated Gold price.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD struggles for a firm direction, stuck in a range below $1,960Gold Price Forecast: XAU/USD struggles for a firm direction, stuck in a range below $1,960 – by hareshmenghani Gold Commodities CentralBanks InterestRate XAUUSD
Read more »
Gold Price Forecast: XAU/USD slides toward $1,950 as China woes join hawkish Fed cluesGold Price (XAU/USD) suffers from the market’s pessimism about China, as well as the fresh hawkish concerns for the Federal Reserve (Fed), as it takes
Read more »
D.C.-area forecast: Sunny and increasingly warm through the holiday weekendTemperatures are in the 80s today and tomorrow, then near 90 Monday. Rain odds are low through early next week.
Read more »
Today's Tucson weather forecast: June 17Find today's weather outlook and see how it compares to previous years in Tucson:
Read more »
Chicago weather forecast: Lots of 80s, no rain in sightFOX 32 Chicago Meteorologist Mark Strehl said starting on Father's Day, Chicago area residents can expect highs in the mid-80s with lows in the 60s.
Read more »