Gold Price Forecast: XAU/USD retreats from two-week high, still well bid around $1,725 area – by hareshmenghani Gold Commodities Fed Inflation XAUUSD
n session. The XAU/USD, however, manages to hold in the positive territory for the second straight day and remains at the mercy of the USD price dynamics.
Adding to this, the prospects for a more aggressive policy tightening by major central banks force the non-yielding gold to retreat from the daily peak. That said, retreating US Treasury bond yields weighs on the USD. This, along with growing recession fears, amid economic headwinds stemming from COVID-19 curbs in China and the protracted Russia-Ukraine war, continues to lend some support to the safe-haven XAU/USD.
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