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Gold Price Forecast: Hawkish Fed Stance Dampens XAU Appeal, Bearish Outlook Persists
Gold (XAU) is drifting lower on Tuesday. The move is being fueled by a stronger U.S. Dollar. Losses are being limited, however, by a dip in Treasury yields. At 05:13 GMT, Gold (XAU) is trading $1937.01, down $4.615 or -0.24%. Last Friday, the SPDR Gold Shares ETF (GLD) settled at $180.90, up $0.70 or +0.39%. Gold prices traded in a narrow range on Tuesday, hovering close to a recent two-month low. The metal’s appeal was dented by optimism over a U.S. debt ceiling deal and reduced expectations for a pause in the Federal Reserve’s rate hike policy in June. Debt Ceiling Deal Dims Gold Demand On Monday, U.S. ... (full story)