Gold price comes under pressure ahead of Fed Powell speech

Share:

• Gold price struggles to recover as investors turn cautious ahead of Fed Powell’s speech.
• On Tuesday, a majority of Fed policymakers supported raising interest rates further.
• Economists see cracks in the broader appeal for the US Dollar amid easing labor market conditions.

Gold price (XAU/USD) struggles for a firm footing as investors remain worried about guidance on interest rates ahead of remarks from Federal Reserve (Fed) Chair Jerome Powell’s speech on Wednesday. The precious metal remains under pressure as Fed policymakers have supported further policy-tightening in their recent statements, emphasizing that the battle against stubborn inflation is far from over.