{"id":144061,"date":"2019-03-21T10:45:16","date_gmt":"2019-03-21T14:45:16","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=144061"},"modified":"2019-03-21T06:51:24","modified_gmt":"2019-03-21T10:51:24","slug":"xauusd-analysis-dovish-fed-stance-bullish-for-gold","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/03\/xauusd-analysis-dovish-fed-stance-bullish-for-gold\/","title":{"rendered":"XAUUSD Analysis: Dovish Fed stance bullish for Gold"},"content":{"rendered":"
March 21, 2019<\/div>
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By IFCMarkets<\/a><\/strong><\/p>\n

Dovish Fed stance bullish for gold<\/strong><\/p>\n

Halting interest rate hikes this year by the Fed is bullish for gold. Will the gold<\/a> price continue rising?<\/p><\/blockquote>\n

Federal Reserve\u2019s dovish stance hurts US dollar, making gold more affordable and attractive for investors. At a conclusion of March meeting yesterday the Fed cut the projection of the number of interest rate hikes expected this year to zero from the two forecast in December. This is clearly dovish for the dollar. At the same time policymakers indicated in Fed\u2019s statement that continued US economic growth remains \u201cthe most likely\u201d scenario for the US, supporting demand for risky assets – stocks. Continued strength in US stock prices is the major risk for gold. Thus, positive recent data attest to continued strength of US economy while reports US Trade Representative Lighthizer and Secretary of Treasury Mnuchin will visit Beijing next week indicate US and China are in the final stages of trade negotiations. Durable goods orders increase together with construction spending in January were above forecast. The consumer price index rose 0.2% on month in February after three months of no change. Retail sales rose above expected 0.2% over month January, after downwardly revised 1.6% drop in December. And factory orders growth was steady in January. The Federal Reserve decision indicating dovish turn in central bank monetary policy is bullish for gold prices.<\/p>\n

\"XAUUSD<\/p>\n

On the daily timeframe the XAUUSD: D1<\/b> has been retracing higher after hitting seven-week low in the begging of March.<\/p>\n