Exciting Gold Price Forecast: XAU/USD stands firm above the $1,900 mark, while all eyes eagerly await the US PCE Price Index for a burst of fresh impetus.

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GOLD: US Dollar Hits Supply Zone, What Next?

Here's the latest news from Federal Reserve Chair Jerome Powell. While speaking at a conference in Portugal, Powell expressed optimism about the US economy and decreased the possibility of a recession, stating that the economy has shown resilience and is still growing, albeit at a modest pace. He acknowledged the possibility of a recession but

Gold Price Forecast: XAU/USD resilient despite Fed’s rate hike speculations on solid US data

Gold price regains momentum above $1900 despite increased odds of Fed rate hikes. US economic data underscores robust growth, pushing XAU/USD to test 200-day EMA. Treasury bond yields soar, underpinning projections of higher rates and potential headwinds for Gold demand. Gold price recovers some ground after sliding below the $1900 figure for the first time

Gold Price Forecast: XAU/USD to find a major floor at the 200-DMA of $1,856 – Credit Suisse

The decline in Gold is now on the cusp of Credit Suisse’s target of price and retracement support at $1,900/1,890. The bank analyzes XAU/USD technical outlook. Weekly close below $1,856 to reinforce the longer-term sideways range Gold has declined to our core target of $1,900/1,890 and with the rising 200-DMA seen not far below at

Breaking: ​​​​​​​Gold drops below $1,900 for the first time since mid-March

Stronger-than-expected US economic data boosts the US Dollar across the board. US Treasury yields spike higher, putting pressure on Gold. XAU/USD fell below $1,900/oz, reaching its lowest level in three months. Gold prices tumbled following the release of US economic data. XAU/USD broke below $1,900 for the first time since mid-March and fell to $1,894.

Gold Price Forecast: XAU/USD bears keep control, focus on $1,885 and Fed inflation gauge

Gold Price stays bearish near the lowest levels since March, braces for the second consecutive weekly loss. Hawkish Federal Reserve talks, upbeat United States data underpin US Dollar strength and weigh on XAU/USD. US-China jitters, Germany’s recession fears and fewer accolades for European Central Bank hawks also favor Gold sellers. China’s official PMIs, US PCE

Gold Price Forecast: XAU/USD Glides Around $1,900, Anticipating Data to Unveil Fed’s Hawkish Signals – Confluence Detector The captivating dance of XAU/USD continues as it...

Gold Price remains dicey as bears attack the key support while seeking confirmation of hawkish Fed bias. Fed’s preferred inflation, FOMC Minutes and NFP will be crucial to watch for clear XAU/USD directions. US-China headlines, central bankers’ speeches may entertain the Gold sellers. Gold Price (XAU/USD) lacks clear directions even as bears keep the reins
  • Gold price fails to attract any buyers or build on the overnight bounce from a multi-month low.
  • Hawkish major central banks continue to act as a headwind for the non-yielding commodity.
  • The US Dollar stands tall near a two-week high and also contributes to capping the XAU/USD.
  • Investors keenly await the release of the US PCE Price Index before placing directional bets.

Gold price struggles to capitalize on the overnight bounce from the $1,893-$1,892 area, or its lowest level since mid-March and oscillates in a narrow trading band during the Asian session on Friday. The XAU/USD currently trades below the $1,910 level, nearly unchanged for the day as traders keenly await the release of the key inflation data from the United States (US) before placing fresh directional bets.

Market focus remains glued to US PCE Price Index

The US Personal Consumption Expenditures (PCE) Price Index, especially the core reading, is the Federal Reserve’s (Fed) preferred inflation gauge and might influence expectations about the future rate-hike path. This, in turn, will play a key role in influencing the US Dollar (USD) price dynamics and help determine the next leg of a directional move for the Gold price. In the meantime, the USD is seen consolidating its gains recorded over the past two trading days, to the highest level since June 13, and lends some support to the US Dollar-denominated XAU/USD.

Hawkish central banks continue to cap Gold price

That said, a more hawkish outlook by major central banks continues to act as a headwind for the non-yielding Gold price and keeps a lid on any meaningful recovery. In fact, the European Central Bank (ECB) President Christine Lagarde, speaking at the Sintra central banking event in Portugal, said that inflation in the Eurozone is too high and is set to remain so for too long, lifting bets for a ninth consecutive lift-off in July. Adding to this, the Bank of England (BoE) Governor Andrew Bailey hinted that rates could remain at peak levels for longer than traders currently expect.

Elevated US bond yields underpin the USD and cap XAU/USD

Fed Chair Jerome Powell, meanwhile, reiterated that two rate increases are likely this year and said that he does not see inflation coming down to the Fed’s 2% target until 2025. This, along with the upbeat US macro data released on Thursday, reaff


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