Gold prices fell on Wednesday after peaking this week. Fed’s tightening policy and stronger NFP can send gold below the 1800 mark. A bearish death cross on the daily chart may help the sellers. Gold analysis is bearish after yesterday’s fall. A surge in the US dollar helped knock gold off its peaks this week. Richard Clarida, the Fed vice chairman, took action on Wednesday to bolster the Fed’s rate hike plans. In light of Clarida’s comment, a possible schedule announcement may be warranted later this year if economic conditions continue to improve. As the transmission delta option grows in importance, seasoned economists recognize its increasing threat. –Are you interested to learn more about automated forex trading? Check our detailed guide- As a result of the tightening of the already restrictive Fed rates, market participants bet on the US dollar bulls. Dollar strength pushed down gold prices. Because foreign investors face higher ownership expenses when the dollar strengthens, yellow metal prices tend to decline. Some people see gold as a hedge against inflation, although this feature is still on the table in many quarters. It is likely, however, that fast-tracked consideration to tighten the Federal Reserve will harm gold. Prices tend to be lower when interest rates are higher. Get FREE Forex Signals Now! Despite this, inflation is unlikely to be a focus of gold for the time being. Moreover, there has been a general absorption of the temporary assessment of price increases by the Fed. Friday’s nonfarm payrolls (NFP) report is the big driver on the horizon for gold prices. According to analysts, 870,000 jobs will be created in July. Considering the Fed’s focus on the labor market, consensus data pressure is likely to be critical to monetary policy decisions. The stronger-than-expected NFP result should affect gold prices, contributing to dollar strength. Alternatively, a slip can benefit the yellow metal. Gold technical analysis: Death cross can trigger more selling Earlier this week, XAU prices looked higher but failed to hold above the 50-day and 200-day simple moving averages (SMA). The falling 50-day SMA has limited the uptrend over the past few weeks, and the death cross now appears to be looming on the horizon. This will likely put bearish technical pressure on gold, potentially bringing it back below the psychologically impressive 1800 mark. –Are you interested to learn more about forex signals? Check our detailed guide- Gold 4-hour chart analysis Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Commodities share Read Next Ethereum Price Surges Above $2,700 Ahead of London Hard Fork Launch Nancy Lubale 1 year Gold prices fell on Wednesday after peaking this week. Fed's tightening policy and stronger NFP can send gold below the 1800 mark. A bearish death cross on the daily chart may help the sellers. Gold analysis is bearish after yesterday's fall. A surge in the US dollar helped knock gold off its peaks this week. Richard Clarida, the Fed vice chairman, took action on Wednesday to bolster the Fed's rate hike plans. In light of Clarida's comment, a possible schedule announcement may be warranted later this year if economic conditions continue to improve. As the transmission delta option grows in… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.