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Gold Price Forecast: XAU/USD grinds near $1,970 amid Fed concerns, debt ceiling woes – Confluence Detector
Gold Price (XAU/USD) treads water around $1,975 heading into Wednesday’s European session. In doing so, the precious metal portrays the market’s inaction amid mixed feelings and cautious mood ahead of the key data/events. That said, the Gold Price previously cheered the US Dollar’s retreat amid a deadlock in the talks to resolve the debt ceiling problem. Also likely to prod the US Dollar bulls is the latest retreat in the US Treasury bond yields amid mixed US PMIs, mostly upbeat. It should be observed that the market sentiment remains sluggish ahead of the US debt ceiling talks and Minutes of the latest Federal ... (full story)