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Gold Technical Analysis: The dovish Fed expectations remain a tailwind
Gold has been keeping a bullish bias ever since Fed’s Williams endorsed a rate cut at the December FOMC meeting. The higher rate cut odds have been a tailwind for precious metals. There’s been nothing in the meantime to stop this momentum as the recent US data came in on the softer side. It’s all about the Fed’s forward guidance now and the following NFP and CPI reports. Hawkish stuff should weigh on gold and trigger another correction, while a dovish leaning should keep supporting the upside. In the bigger picture, gold should remain in an uptrend as real yields will likely continue to fall amid the Fed’s ... (full story)
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