Gold Price Forecast: XAU/USD bears ignore sluggish USD on mixed growth concerns, hawkish central banks Gold XAUUSD Growth CentralBanks Fed
e of early Thursday morning in Asia. In doing so, the precious metal bears the burden of the market’s fears of slowing economic growth and higherGold Price suffers from fears of economic slowdown, higher rates
Not only the growth fears but the concerns surrounding the higher rates amid sluggish economic transition also weigh on the Gold Price. With the growth fears and hawkish central bank actions, as well as signals, the US Treasury bond yields rallied and weighed on the Gold Price the previous day. That said, the benchmark US 10-year Treasury bond yields rose the most in five weeks to 3.79% while the two-year counterpart marched to 4.52% at the latest.
Looking forward, growth numbers from Japan and Europe will join the weekly US Jobless Claims to entertain the Gold traders but risk catalysts and the bond market moves will be crucial to watch for clear directions.Gold Price breaks a one-week-old ascending support line while reversing the previous weekly gains.
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