Gold Price Forecast: XAU/USD battles weekly hurdle en-route $1,834 amid softer yields By anilpanchal7 Gold YieldCurve Inflation Fed Commodities
lti-day high on Wednesday after the US Treasury yields and the greenback marked a surprise fall despite a four-decade high inflation data, as well as hawkish Fedspeak.
Elsewhere, Japan witnesses the four-month high daily covid infections and is ready to push Tokyo towards the second highest COVID-19 alert level while Australian policymakers called for a snap Cabinet meeting to tackle the steady jump in the daily infections. Furthermore, the US and Europe aren’t behind the curve while China and India have also started reporting multi-day high daily covid numbers.
Given the key SMA breakout, as well as bullish MACD signals and firmer RSI, gold buyers are likely to overcome the $1,826 immediate hurdle.
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