Gold Price Forecast: XAU/USD refreshes 11-month high near $1,990 as signs of steady flat policy soar Gold XAUUSD Fed Inflation SupportResistance
Gold price has printed a fresh 11-month high at $1,988.33 as it is being treated as a safe-haven amid the banking fiasco.
The odds of a steady monetary policy have got more limelight as January’s inflation data has resulted in a one-time blip, February’s Consumer has shown that it is in a declining trend, and now Fed policymakers have a responsibility of restoring investors’ confidence in the United States economy after the commercial banks’ fiasco.
S&P500 futures were heavily beaten on Friday as investors are worried about banking sector turmoil. In times of banking shakedown, investors are considering Gold as a safe-haven asset. The US Dollar Index found intermediate support around 103.65, however further downside looks solid aspolicymakers are tied to go extremely hawkish in the interest rate decision to be delivered on Wednesday.
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