Gold Price Forecast: XAU/USD eases amid risk aversion, United States inflation, Federal Reserve Minutes eyed Gold XAUUSD SEO Inflation Fed
. Also allowing the XAU/USD bulls to take a breather, after posting the first weekly gain in three, is the cautious mood ahead of this week’s top-tier and events, namely the United States Consumer Price Index and the latest Federal Open Market Committee Monetary Policy Meeting Minutes.
While tracing the US Dollar weakness, as well as the Gold price run-up, recently downbeat United States data and receding hawkish bias for the Federal Reserve gain major attention. The downbeat US data also propels fears of a recession in the world’s largest economy and weigh on the US Dollar, as well as fuels the Gold price. As per the latest research, the Federal Reserve’s preferred gauge of economic health backed the recession woes, via bond market clues.
While portraying the mood, the S&P 500 Futures print mild losses whereas the US 10-year and two-year Treasury bond yields keep the previous week’s downside bias around 3.37% and 3.94% respectively.Although the Gold bears are in command for intraday, the bulls aren’t off the table and can wait for this week’s keyConsumer Price Index and the latest Federal Open Market Committee Monetary Policy Meeting Minutes for fresh impulse.
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