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Markets await a fundamental catalyst to push spot gold out of its range bound cycle, while Fed Chair Powell’s speech later today should initiate XAU/USD volatility.
Gold has been in an uphill battle with rising real yields and a stronger dollar weighing down on the yellow metal but key economic data this week could change that.
Gold’s downside 2022 forecast has been exacerbated by the fading Omicron variant, but dollar weakness has kept gold in the green today and could allow for further upside.
Despite a hawkish Fed and a bullish dollar outlook for 2022 current fundamentals may give gold one last uptick with higher inflation expectations and rising COVID cases.
More than half of surveyed quant managers say a lack of talent limits implementation of new data sets.