Gold Price Forecast: XAU/USD drops to one-week low amid stronger USD, Fed rate hike jitters – by hareshmenghani Gold Commodities Fed Recession XAUUSD
ajectory remains uninterrupted through the first half of the European session and drags spot prices to a one-week low, around the $1,678 region in the last hour.will stick to its aggressive policy tightening path lifts the US dollar to a one-and-half-week high, which, in turn, is seen weighing on the dollar-denominated gold.
Hence, the market focus remains on theInvestors will look for fresh clues about the Fed's future rate hike path, which, in turn, will play a key role in influencing the USD and provide a fresh directional impetus to gold. Apart from this, traders, this week will take cues from the US monthly Retail Sales data.
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