Gold Price Forecast: XAU/USD hesitates below $2,010 despite USD retreat, hawkish Fed concerns linger Gold XAUUSD China Fed Commodities
policymakers also enabled the greenback to pare the previous losses. Amid these plays, the CME’s FedWatch tool suggests an almost certain case of the US central bank’s 0.25% rate hike in May. That said, the interest rate futures also tame the odds of the rate cuts in late 2023, as well as support the longer halt to the rate hike trajectory after the upcoming rate lift.
Amid these plays, the S&P 500 Futures print 0.20% intraday gains as it reverses the previous day’s pullback from the highest levels since early February around 4,172. That said, the US 10-year and two-year Treasury bond yields pare the previous week’s 3.0% gains with minor losses around 3.52%% and 4.11% respectively.
Adding strength to the recovery moves is the RSI rebound from the oversold territory and the looming bull cross on the MACD indicator. Following that, the early-month swing high around $2,033 and the monthly peak surrounding $2,049 can lure the XAU/USD bulls.
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