Gold Weekly Forecast: Correction deepens on hawkish Fed tone, US-China trade truce

Gold (XAU/USD) remained under bearish pressure and touched its weakest level since early October, below $4,000, pressured by the Federal Reserve (Fed) Chairman Jerome Powell’s cautious remarks on policy easing and a de-escalation in the United States (US) – China trade conflict. Upcoming macroeconomic data releases from the US and comments from Fed officials could influence Gold’s valuation in the near term.   Gold extends correction from record-high  Gold started the week under heavy bearish pressure and lost more than 3% on Monday. Growing optimism about the US and China reaching a trade truce allowed risk flows to dominate markets, making it difficult for Gold to find demand as a safe haven source: https://beincrypto.com/gold-weekly-forecast-correction-deepens/