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- Gold Price Forecast: XAU/USD to challenge the highs yet again if market feels May hike could be the last – TDS
Gold Price Forecast: XAU/USD to challenge the highs yet again if market feels May hike could be the last – TDS
Gold has held strong above the $2,000 mark despite losing some momentum following the last week's US employment data. The yellow metal could retest its highs if markets believe that the Fed’s hike expected in May is the last, economists at TD Securities report.
Miss on the CPI report is giving XAU/USD a lift higher
“While the miss on the CPI report is giving the yellow metal a lift higher, the strong labour market trends and sticky core services inflation suggest a 25 bps hike at the May FOMC meeting is still in the cards.”
“However, if the market increasingly feels the May hike could be the last of the cycle, with cut timing also top of mind, it could be the catalyst needed to see Gold challenge the highs yet again.”
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