Gold Price Forecast: XAU/USD struggle below $2,000 amid US default fears, hawkish Fed bets Gold SEO XAUUSD Fed FiscalPolicy
First Republic Bank-induced relief contrasts with fears of US debt ceiling expiry to prod XAU/USD bulls.Federal Reserve’s hawkish bias, upbeat US Nonfarm Payrolls become necessary to convince the Gold sellers.
Gold price aptly portrays the market’s cautious mood around $1,980, after a downbeat week-start, as full markets return on Tuesday. In doing so, the XAU/USD justifies mixed plays surrounding the US debt ceiling expiration and First Republic Bank, as well as the hawkish concerns about the Federal Reserve . However, the recently firmer US inflation expectations and data keep the Gold bears hopeful ahead of a busy week.
That said, Reuters came out with the news suggesting the US Senate Majority Leader Chuck Schumer’s push for an expedited process to consider a clean two-year suspension of the federal debt ceiling. Fueling the US diplomat’s move is the Treasury Department’s recent updates of the default by pulling forward the date of running out of funds to match obligations if the current debt ceiling isn’t altered by June 01, previously signaled as July.
The same triggered chatters of US President Joe Biden’s call to four top US diplomats and arranging a meeting on May 09 made rounds. Further, US House of Representatives Speaker Kevin McCarthy mentioned that there is a bill sitting in the Senate as we speak that would put the risk of default to rest.
On the other hand, the US regulators seized assets of the First Republic Bank and sold them to a new buyer, namely JP Morgan. “JPMorgan will pay $10.6 billion to the U.S. Federal Deposit Insurance Corp as part of the deal to take control of most of the San Francisco-based bank's assets and get access to First Republic's coveted wealthy client base,” said Reuters.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Gold Price Forecast: XAU/USD dips below $2000 on improved ISM report, as high inflation loomsGold Price Forecast: XAU/USD dips below $2000 on improved ISM report, as high inflation looms – by christianborjon Gold XAUUSD Commodities Metals
Weiterlesen »
Gold Price Forecast: XAU/USD struggles to find direction as focus shifts to Fed policyGold price (XAU/USD) is hovering around $1,990.00 in the early Asian session. The precious metal is struggling to find any direction as investors are
Weiterlesen »
Gold Price Forecast: XAU/USD jumps back above $2,000 mark, upside seems limitedGold price attracts some dip-buying near the $1,977 region on Monday and climbs to a fresh daily high heading into the North American session. The XAU
Weiterlesen »
Gold Price Forecast: XAU/USD sees downside below $1,970 as USD Index rebounds and US banking woes easeGold price (XAU/USD) is declining towards its crucial support of $1,970.00 in the Asian session. A solid recovery in the US Dollar Index (DXY) amid up
Weiterlesen »
Gold Price Forecast: XAU/USD bears approach $1,980 support on First Republic woes, Fed, US NFP eyedGold price (XAU/USD) drops towards a short-term key support confluence as sour sentiment underpins the US Dollar demand and weighs on the metal prices
Weiterlesen »
Gold Price Forecast: XAU/USD finds a cushion around $1,980, downside seems favored ahead of Fed policyGold price (XAU/USD) is continuously defending downside around the crucial support of $1,980.00 for the past few weeks. The precious metal is prone to
Weiterlesen »