Gold Price Forecast: XAU/USD likely to see data-driven volatility as $2,200 Q2 target is in sight – TDS
Source Fxstreet
Gold (XAU/USD) is sitting near the highest level in five days above $2,050. Strategists at TD Securities analyze the yellow metal’s outlook.
Strong labor markets are associated with continued inflation pressures
Strong labor markets are associated with continued inflation pressures. And with core CPI much above the two percent target, the market concluded that a very early Fed easing is not in the cards. But with the most recent production prices coming in at below expectations, the market is once again going long, as it anticipates an early end to restrictive policy.
There will likely be data-driven volatility as Gold trends to our $2,200 Q2 target.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Gold price (XAU/USD) loses ground after registering gains in the previous day, trading around $4,050 per troy ounce during the Asian hours on Tuesday.
Oil prices remain depressed on Tuesday, as hopes of a new round of peace talks between the US and Iran boosted hopes of a de-escalation of the Middle East conflict.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – gains strong positive traction during the Asian session on Wednesday, snapping a three-day losing streak to an over two-week low touched the previous day.
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