Gold price (XAU/USD) braces for the third consecutive weekly loss as it holds lower grounds near $1,835 during early Friday morning. The major catalyst for the yellow metal’s latest losses could be linked to the United States economics which renew hawkish bias for the Federal Reserve (Fed). Also weighing on the XAU/USD could be the headlines surrounding India and China, as well as a lack of major data/events ahead of the next week’s Minutes of the latest Federal Open Market Committee (FOMC) monetary policy meeting.
Upbeat statistics from the United States have recently pushed back the calls for the Federal Reserve’s (Fed) policy pivot. That said, the latest FEDWATCH read from Reuters signals that the interest rate futures market shows US rates could peak close to 5.25% by July before dropping to 5.0% by the end of the year. The same allows the US Treasury bond yields and the US Dollar to remain firmer and weigh on the Gold price.
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