XAUUSD is under great pressure
Updated
This downward trend is impacted by anticipated changes in Federal Reserve interest rate increases, higher U.S. Treasury yields and easing consumer inflation. These factors took XAU/USD to a 10-day low of $1,956.81. Demand for safe-haven assets such as gold has been limited due to positive market sentiment reflected in Wall Street's gains.
Investors are closely watching these developments and are awaiting a speech from Fed Chairman Jerome Powell to provide guidance on future interest rates as well as the prospect of more rate hikes this year to achieve the Fed's 2% inflation target.
Gold prices are under high pressure from the market when the Fed's stance is unclear.
Fed Chairman Powell will give a speech on monetary policy at the Jacques Polak Conference tomorrow morning.
Everyone continues to talk about bringing inflation to 2% in the near future, with a high possibility that the Fed will continue to raise interest rates.
Investors are closely watching these developments and are awaiting a speech from Fed Chairman Jerome Powell to provide guidance on future interest rates as well as the prospect of more rate hikes this year to achieve the Fed's 2% inflation target.
Gold prices are under high pressure from the market when the Fed's stance is unclear.
Fed Chairman Powell will give a speech on monetary policy at the Jacques Polak Conference tomorrow morning.
Everyone continues to talk about bringing inflation to 2% in the near future, with a high possibility that the Fed will continue to raise interest rates.
Note
💵XAUUSD Sell 1948 - 1950 🪙🪙🪙🪙✔️TP1 : 1945
✔️TP2 : 1940
❌SL: 1955
Note
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✔️Hit TP2➡️ Close all +100pips 🔥🔥
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