GOLD 9/6 : Will the weekend have time to recover 1982
Gold prices rebounded slightly on the back of a weaker dollar after data on Americans filing for first-time jobless claims spiked last week. This raises expectations for a halt in interest rate hikes by the US Federal Reserve (Fed).
The Fed will almost certainly refrain from raising interest rates in June but the latest hawkish surprises from the Reserve Bank of Australia (RBA) and the Bank of Canada (BoC) challenge XAU/USD buyers amid concerns about a hawkish move .
Even if the Federal Open Market Committee (FOMC) refrains from raising interest rates, Gold prices could see a bearish bias if policymakers strongly confirm rate hikes in July and beyond. there.
The Fed will almost certainly refrain from raising interest rates in June but the latest hawkish surprises from the Reserve Bank of Australia (RBA) and the Bank of Canada (BoC) challenge XAU/USD buyers amid concerns about a hawkish move .
Even if the Federal Open Market Committee (FOMC) refrains from raising interest rates, Gold prices could see a bearish bias if policymakers strongly confirm rate hikes in July and beyond. there.
Comment:
Gold made a strong comeback on Thursday, rising to $24 as speculators continued to drive the early recovery momentum amidst a prolonged weakening of the US dollar and low bond yields in the US. The unexpected interest rate hike by the Bank of Canada (BoC) has reduced optimism about the Fed's rate increase next week after US initial jobless claims rose to the highest level since October 2021 at 261K last week.
