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Gold Under Pressure ahead of Powell’s Senate Hearing
XAU/USD is trading at $1,839.24, down by 0.41% in 24 hours. Gold investors anticipate additional information on the Fed’s inflation outlook and monetary policy stance from Powell’s speech. US Economic data The US economy gives favourable investor sentiment despite increasing inflation and a tight labour market. Meanwhile, the factory sector’s weaknesses continue to raise questions. A recent report claims that, in contrast to the expert projection of -1.8%, factory orders in the United States declined by 1.6% in January. Factory orders climbed by 1.2% when excluding transportation. A decline in commercial ... (full story)
