Gold price (XAU/USD) has been trending lower over the past two weeks or so in the wake of the Federal Reserve (Fed) signal that sticky inflation was likely to attract at least one more rate hike in 2023. Moreover, several Fed officials backed the case to keep rates restrictive for longer to bring inflation to the 2% target. Adding to this, the incoming resilient macro data from the United States (US) supports prospects for further policy tightening by the Fed. This, in turn, remains supportive of elevated US Treasury bond yields, which lifts the US Dollar (USD) to its highest level since November 2022 and drives flows away from the non-yielding yellow metal.
GOLD SELL FROM : 1826
TP. : 1818
TP. : 1810
TP. : 1800.TARGET
SL. : 1838
GOLD SELL FROM : 1826
TP. : 1818
TP. : 1810
TP. : 1800.TARGET
SL. : 1838
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