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Forecast for Gold Price: XAU/USD bulls want 50% mean reversion

Alina Haynes

Feb 08, 2023 12:01

截屏2022-06-07 下午5.15.32.png 

 

The Gold price ended the day mostly stable against a mixed US Dollar, which was pushed and pulled by Jerome Powell's remarks at The Economic Club of Washington, D.C.'s Signature Evening.

 

While he repeated much of what he said in the press conference that followed last week's interest rate decision, the markets reacted quickly to his most dovish statements, which were largely surrounded by hawkish language, and the US Dollar plummeted.

 

As the markets processed the comments, gold gained only to fall back under pressure, fluctuating between $1,865 and $1,884 at its highest point. As of this moment, the Gold price in Asia has reached a session high of $1,878.46.


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