The upside for the Gold price, however, remains capped amid the prospects for further policy tightening by the Fed. The markets are currently pricing in a greater chance of another 25 basis points (bps) rate hike at the next Federal Open Market Committee (FOMC) meeting in May. The bets were reaffirmed by hawkish comments by Philadelphia Fed Bank President Patrick Harker, saying that the US central bank is fully committed to bringing inflation back down to the 2% target.
Dips could be seen as a buying opportunity
This, for the time being, puts a floor under the US Treasury bond yields, which holds back traders from placing aggressive bearish bets around the USD and contributes to capping gains for the non-yielding Gold price. Nevertheless, the aforementioned fundamental backdrop suggests that the path of least resistance for the XAU/USD is to the upside. Hence, any meaningful corrective pullback is more likely to get bought into and is more likely to remain limited.
風險提示：本文所述僅代表作者個人觀點，不代表 Followme 的官方立場。Followme 不對內容的準確性、完整性或可靠性作出任何保證，對於基於該內容所採取的任何行為，不承擔任何責任，除非另有書面明確說明。
暫無評論，立馬搶沙發