Even as US inflation advocates hawkish Fed halt
Gold Price remains on the back foot around the lowest level in a week, challenging the bearish breakdown of the trend continuation chart pattern, suggesting further downside of the XAU/USD. That said, the Gold Price holds lower grounds mind early Wednesday morning in Asia. It should be noted that precious matel's latest weakness pays little heed to the downbeat United States (US) inflation readings while appearing closely(inversely) linked to the firmer US Treasury bond yields.
Even if the quote Gold Price crosses the $1,69 hurdle, the 200-SMA and a three-week-old horizontal resistance zone, near $1983-85.
Overall, stronger resistance on the top and a likely hawkish Fed rate halt keep the Gold sellers hopeful.
Gold Price remains on the back foot around the lowest level in a week, challenging the bearish breakdown of the trend continuation chart pattern, suggesting further downside of the XAU/USD. That said, the Gold Price holds lower grounds mind early Wednesday morning in Asia. It should be noted that precious matel's latest weakness pays little heed to the downbeat United States (US) inflation readings while appearing closely(inversely) linked to the firmer US Treasury bond yields.
Even if the quote Gold Price crosses the $1,69 hurdle, the 200-SMA and a three-week-old horizontal resistance zone, near $1983-85.
Overall, stronger resistance on the top and a likely hawkish Fed rate halt keep the Gold sellers hopeful.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.