Gold Price Forecast: XAU/USD steadies above $1,800 as US inflation amplifies Fed fears – by anilpanchal7 Gold XAUUSD Fed Inflation Commodities
ce June, marked the previous day, during early Wednesday. In doing so, the yellow metal portrays the traders’ indecision amid mixed clues and anxiety ahead of the US Federal Reserve’s monetary policy meeting.
The reason could be linked to the hopes of more stimulus from China, as officials from the Asian Development Bank and the International Monetary Fund appear less convinced by the dragon nation’s easing of the Zero-Covid policy and continue to highlight economic fears. As a result, Reuters said, “Fed funds futures prices implied a better-than-even chance that the Fed will follow its expected half-point interest-rate hike this week with a smaller 25-basis-point rate hike in February, ultimately raising rates no higher than the 4.5%-4.75% range in its battle to beat inflation,” said Reuters. The news also added that traders were betting on a second half-point hike in February before the inflation report.
In doing so, the precious metal also takes clues from the nearly overbought RSI and the bullish MACD signals.
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