Gold Price dribbles around $1,850 with eyes on Fed’s Powell, US PMIs By anilpanchal7 Gold XAUUSD PMI Fed RiskAppetite
appears to be on track to rise moderately in the second quarter, per Reuters. It will be a tough job for the Fed Boss to back further aggression in monetary policy amid recessionary fears, failing to do so can extend the latest rebound of the XAUUSD.June PMIs
That said, the month-start bottom around $1,830 may offer immediate support should the quote drops below the 200-DMA level of $1,843. However, a five-week-old trend line support, close to $1,804 by the press time, will precede the $1,800 threshold to challenge the bear’s entry afterward. Overall, Gold Price is likely to witness further sideways momentum but the overall trend remains bearish.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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