Gold prices retrace, experience pullback from recent highs as US Dollar strengthens. Risk-off sentiment, lower Gold demand follows Fed announcement on monetary policy. Fed cautious on economy, eyes on inflation, labor market. US 10-year Treasury yields, Dollar Index rise, both headwinds for Gold prices. Gold prices fell from all-time highs of $2,223 and broke below the $2,200 figure on Thursday, clocking losses of 0.
According to the CME FedWatch Tool, expectations for a June rate cut stand at 74%, down from 59% at the beginning of the week. Technical analysis: Gold traders' failure at $2,200 exposed the $2,180 mark The XAU/USD price has fallen below the $2,200 mark and sits below the previous all-time high of $2,195 as sellers moved in.
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