Gold Price Forecast: XAU/USD edges lower ahead of Federal Reserve, holds above $1,800 – by hareshmenghani Gold Commodities Fed InterestRate SEO
e XAU/USD remains on the defensive heading into the North American session, albeit holds above the $1,800 mark as traders await the latest monetary policy update from the Federal Reserve.The softer-than-expected release of the consumer inflation figures from thereaffirmed expectations that the Federal Reserve will slow the pace of its policy tightening. In fact, the US central bank is expected to deliver a relatively smaller 50 bps at the end of a two-day policy meeting later this Wednesday.
suggest that the markets are pricing in a 25 bps rate hike at the next Federal Open Market Committee meeting in February 2023. This, in turn, should offer some support to the non-yielding Gold price.The market focus, meanwhile, will remain on the accompanying policy statement and the so-called dot plot. Investors will look for fresh cues about the future rate-hike path, which will help determine the next leg of a directional move for Gold price.
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