Gold Price Forecast: Bulls maintain the pressure above $1,850

Market players doubt how aggressive the US Federal Reserve would be.XAUUSD is pressuring its weekly high and has scope to advance towards $1,900.

could be. Speculative interest is now considering two potential 50 bps hikes and then a less aggressive stance. President of the Federal Reserve Bank of Atlanta Raphael Bostic said rate hikes wouldn’t cause a recession and that the central bank can hike rates to deal with overly high inflation without sending the US economy into recession. Furthermore, he said that the Fed might need to pause rate increases in September and see how the economy performs then.

consolidate within positive levels, also without directional strength. Still, a break above the mentioned weekly high should open the door for an approach to the $1,900 threshold.View Live Chart for the XAU/USD

Source: News Formal (newsformal.com)

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