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XAUUSD ( GOLD ) ANALYSIS 19 MAY 2022 THURSDAY

XAUUSD ( GOLD ) ANALYSIS 19 MAY 2022 THURSDAY

xauusd gold analysis 19 may

XAUUSD (GOLD) analysis is moving in a narrow range. between $1,830 and $1,807. If it breaks through the $1800 support area. and continues below that mark. Then we can see the next levels at $1,780 and $1,770. Fed Chairman Jerome Powell’s hawkish comments on Tuesday. also underscored market expectations. for the US central bank to tighten policy more aggressively. Speaking at an event in the Wall Street Journal. Powell said he would support. raising interest rates until prices begin to fall toward health level. The Fed’s determination to fight inflation remained. supportive of rising US Treasury yields. and it turned out to be a major factor. that was a headwind for non-yielding gold. xauusd gold analysis. It has a significant resistance of $1,836 above this mark. and we could see a nice bullish move towards the next resistance level at $1,855. Aside from this, a modest decline in the US dollar provided additional support. for dollar-denominated gold, at least for the time being.