during the European trading session. Gold is nearing its double-top all-time highs from summer 2020 and March 2022 as traders try to find refuge in the most traditional safe-haven asset, ditching cash in the process.
At the other extreme, markets are likely to go back into panic mode even if the Fed were to leave its policy rate unchanged to address the tightening of financial conditions. Investors could assess such a decision as the situation in the banking sector being much worse than what they were led to believe.”Despite the huge bullish momentum in Gold price,, with the consensus not buying the current hype of XAU/USD bulls. The average end-of-the-week target for the bright metal in the poll $1,947.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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