Gold Price Forecast: Death cross favors XAU/USD bears ahead of United States inflation Gold XAUUSD Inflation SEO Fed
in order to get them to a level high enough to bring inflation back down to the central bank's target rate, per Reuters. Before him, Philadelphia Federal Reserve President Patrick Harker pushed back the chatters of a Fed rate cut during 2023. However, the policymaker did mention, “Fed not likely to cut this year but may be able to in 2024 if inflation starts ebbing.
That said, the 50-SMA pierces off the 200-SMA from above and prints a bearish moving average crossover called the “Death cross”, suggesting further weakness of the Gold price.
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