Gold Price Forecast: XAU/USD bears cheer United States debt ceiling deadlock, banking woes Gold SEO Inflation Fed RiskAversion
debt ceiling jitters, as well as the banking fears. However, a light calendar and mixed updates from the Federal Reserve , as well as the US government officials, prod the XAU/USD bears ahead of this week’s key data/events.Gold price bears the burden of concerns that the US may default in early June if the debt ceiling isn’t altered soon. The same seems to weigh on theand underpin the US Dollar’s run-up.
Recently, US President Joe Biden signaled that Friday’s delayed talks will be held on Tuesday. The same joins comments from US Treasury Secretary Wally Adeyemo who termed the debt-ceiling negotiations between the White House as "constructive," to challenge the market pessimists and the US Dollar buyers. As a result, the Gold price remains depressed but the bears take a breather of late.
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