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- Jerome Powell sounded cautious with a hawkish tilt, leaving the door open for another hike in 2023.
- Markets are price back chances of a hike in November.
- Higher US yields opened the downside to the yellow metal.
On Friday, the Gold Spot price XAU/USD faced selling pressure after Fed Jerome Powell’s words at the Jackson Hole Symposium. The spot trades near the $1,910 area, where the 20 and 200-day Simple Moving Average (SMA) are about to perform a bearish cross.
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