Gold price reached an all-time high on Thursday, with the bright metal trading as high as $2,222.65 a troy ounce during Asian trading hours.
XAU/USD Current price: $2,172.01 The US Dollar turned higher on Thursday, trimming US Fed-inspired losses. The Switzerland National Bank and the Bank of England delivered monetary policy decisions. XAU/USD could extend its corrective decline, but bulls retain control. Financial markets reacted to the Federal Reserve monetary policy announcement, indicating that the United States policymakers are not in a rush to cut the benchmark rate.
” The US Dollar gathered momentum after the announcements, accelerating with upbeat US macroeconomic figures. The country reported that Initial Jobless Claims for the week ended March 15 declined to 210K, beating expectations. Also, the Philadelphia Fed Manufacturing Survey printed at 3.2 in March, below the previous 5.2 but better than the expected -2.3. Finally, S&P Global unveiled the preliminary estimates for the March Producer Manager Indexes , confirming economic health.
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