Gold Price Forecast: XAU/USD hits lows near $4,650 as Fed easing hopes dim
The post Gold Price Forecast: XAU/USD hits lows near $4,650 as Fed easing hopes dim appeared on BitcoinEthereumNews.com. Gold (XAU/USD) pulls back from last week’s high on Monday, reaching session lows a few dollars above the $4,650 level at the time of writing. Waning hopes of a swift end to the US-Iran war and strong US employment data, which eases pressures on the Federal Reserve to cut rates anytime soon, are hurting precious metals on Monday. US President Donald Trump dismissed Iran’s late proposal of a peace agreement, which, according to Iran’s state media, includes recognition of the sovereignty of the Strait of Hormuz. To make matters worse, Israeli Prime Minister Benjamin Netanyahu affirmed that the war will not be over until Iran’s enriched uranium is removed, an option Tehran considers utterly unacceptable. Furthermore, US data released on Friday revealed that jobs grew well beyond expectations in April, suggesting that the labour market is finally stabilising. These figure