- Gold prices retrace, experience pullback from recent highs as US Dollar strengthens.
- Risk-off sentiment, lower Gold demand follows Fed announcement on monetary policy.
- Fed cautious on economy, eyes on inflation, labor market.
- US 10-year Treasury yields, Dollar Index rise, both headwinds for Gold prices.
Gold prices (XAU/USD) fell from all-time highs of $2,223 and broke below the $2,200 figure on Thursday, clocking losses of 0.29% as the Greenback stages a comeback while US Treasury yields paired yesterday’s losses. A risk-off impulse and the lack of demand for the yellow metal above the $2,200 mark sponsored XAU/USD’s leg down toward the $2,179 mark.
Financial markets continued to digest the Federal Reserve’s (Fed) dovish hold following its March 21 meeting. Fed Chairman Jerome Powell and his colleagues acknowledged that the economy is robust, the labor market is gradually cooling, and inflation…
