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Gold Price Forecast: XAU/USD downside appears difficult even as US NFP favors Fed hawks

From fxstreet.com

Gold Price (XAU/USD) bears the burden of fresh hawkish Federal Reserve (Fed) calls, especially after the strong United States Nonfarm Payrolls (NFP), as it slides below $1,950 amid early Monday morning in Asia. In doing so, the yellow metal holds onto the post-NFP losses despite posting the first weekly gain in four. That said, the pre-Fed blackout of policymakers may restrict the XAU/USD moves during the week while US ISM Services PMI and China inflation numbers may direct the Gold Price moves. Gold Price lures buyers despite strong Nonfarm Payrolls Gold Price marked the biggest daily slump in a monthly after the ... (full story)

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  • Category: Technical Analysis