XAUUSD-Gold price after Powell Speaks

Mars_Hunter Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold price (XAU/USD) faces an intense sell-off as Federal Reserve (Fed) Chair Jerome Powell remains hawkish at the Jackson Hole Symposium. The precious metal dropped significantly as Jerome Powell kept doors open for further policy tightening. About the labor market, Fed Powell conveys that the labor market is extremely tight and warrants more rates from the central bank.

Fed policymakers: Boston Fed Bank President Susan Collin and Philadelphia Fed Bank President Patrick Harker commented on Thursday that the current interest rate level is enough to do the required job. The US economy is still resilient due to a tight labor market and easing inflation, but further policy-tightening by the Fed could dampen market sentiment.

With my prediction gold will fall sharply after Monday evening meeting Fed Chair Powell Speaks and Jackson Hole Symposium
Harga emas berada di bawah tekanan bearish baru dan turun ke level $1.900. Namun, dengan benchmark imbal hasil Treasury AS 10-tahun menghapus kenaikan yang terinspirasi oleh Powell dalam satu jam terakhir, XAU/USD berhasil pulih menuju wilayah $1.910.

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