Gold Price Forecast: XAU/USD approaches $1,670 hurdle despite hawkish central banks, recession woes – by anilpanchal7 Gold XAUUSD CentralBanks Recession Commodities
sion. In doing so, the yellow metal prints the first daily gain in three while recovering from the three-week low.
The metal’s rebound takes clues from the US Dollar Index weakness, as well as easing economic fears from the UK. However, hawkish central bank expectations and fears of a recession in the Eurozone keep theThat said, the DXY seesaws around 113.00 while paring the previous day’s heavy gains amid a light calendar and an absence of the market’s wagers favoring the Fed’s 1.0% rate hike.
Even so, International Monetary Fund Chief Economist Gita Gopinath anticipates hawkish moves by the US Federal Reserve and, which in turn challenge XAU/USD bulls. IMF’s Gopinath recently stated that the Fed should stay the course in view of the economic data.
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