Gold Price Forecast: XAU/USD retreat needs validation from $1,977 and Purchasing Managers Indexes Gold SEO PMI XAUUSD Fed
However, Federal Reserve Bank of Chicago President Austan Goolsbee said in interview with CNBC on Friday that he still want to see the data. The policymaker also added, “But let's be mindful we've raised a lot; some of the lag is coming through possibly in today's retail sales number."
As a result, the Gold price run-up pauses near the multi-month high and challenges the bulls of late.Despite the recent rebound in the US Dollar and yields, which in turn weighed on the Gold price, there are standing challenges for the greenback in the form of its reserve currency status, as well as surrounding the Fed, which in turn keeps the Gold buyers hopeful.
Furthermore, the odds of witnessing a pause in the Federal Reserve’s rate hikes trajectory are still high and weigh on the US Dollar, which in turn hints at the XAU/USD rebound.Moving on, the Gold traders may witness a light calendar and can adhere to consolidation in the XAU/USD price.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
As earnings season begins, S&P 500 forecast looks less weakAs quarterly U.S. earnings got under way with upbeat reports from JPMorgan Chase & Co and other major banks Friday, analysts marginally brightened their dim outlook for first-quarter U.S. results compared with a week ago.
Read more »
German industry association raises 2023 export growth forecast to 2%Germany's BDI industry association expects exports to grow by 2% in 2023, double its forecast in January, its president told the Rheinische Post newspaper in comments published on Saturday.
Read more »
D.C.-area forecast: Passing showers and storms today, then warm and sunny SundayThere could be a few rounds of showers or storms. None last too long.
Read more »
Today's Tucson weather forecast: April 15Get a glimpse of what the weather in Tucson will be like today and how it compares to previous years:
Read more »
Chicago forecast: Thunderstorms, possible hail, high windsWeather officials were expecting thunderstorms, hail and winds up to 60 mph Saturday in portions of north central and northeast Illinois, and northwest Indiana.
Read more »
North Texas weather forecast: Cold Saturday night, nice days aheadA slight chance of thunderstorms into Friday night as the dryline lingers to the west of Dallas-Fort Worth. While most locations will not see storms, if any...
Read more »