Fed’s Decisions move XAU/USD to decline

The XAU/USD has now declined and eventually moved back into the negative territory for the second successive day.
Gold price was additionally pressured by more and more global central banks. The Federal Reserve on Wednesday indicated that control of the pace of asset purchases may soon be announced if economic progress continues broadly as expected.
Fed Chair Jerome Powell said that the pandemic-era asset purchases could stop completely by mid-2022. Furthermore, the Fed’s decisions showed a growing tendency toward interest rates hike in 2022.
On the other hand, the Bank of England’s policymakers have noted that a modest tightening over the forecast period was likely to be necessary.
With a sudden spontaneous move in the U. S. Treasury bond yields, flows have been driven away from the non-yielding gold and dragged spot prices to three-day lows, around the $1,754 during the early North American session.