Hawkish Fed bets keep XAU/USD sellers hopeful

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Despite the latest lack of clarity in the markets due to the mixed United States data, the market’s bets on the Federal Reserve (Fed) remain hawkish, which in turn challenges the Gold buyers ahead of the key US data. On Wednesday, Federal Reserve Chairman Jerome Powell highlighted the data dependency while also signaling that they have underestimated the resilience of growth and inflation. The news defends the hawkish Fed bias as market players expected a 50 bps rate hike in March, versus 0.25% expected in the last week.

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