Gold Price Forecast: XAU/USD eyes further downside on hawkish Federal Reserve talks Gold XAUUSD Fed Inflation SEO
d States inflation-inflicted downside during early Wednesday. Even so, the hawkish Federal Reserve comments and technical breakdown keep the XAU/USD bears hopeful of keeping the reins ahead of the US Retail Sales. rose past market expectations to 6.4% YoY but posted the slowest increase since 2021 while easing below 6.5% prior. More importantly, CPI ex Food & Energy, better known as the Core CPI, grew 5.6% YoY compared to 5.5% market forecasts and the 5.7% previous readings.
US 10-year Treasury bond yields seesaw around 3.75%, up three basis points after refreshing a six-week high whereas the two-year counterpart jumped to the highest level since early November 2022 by poking 4.62%. That said, bounced off one week low to end the day on the positive side near 103.25. Further, Wall Street closed mixed even after the mostly upbeat performance of the Asian and European markets.
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