Gold Price Forecast: XAU/USD grinds near $1,820 hurdle with eyes on Fed – by anilpanchal7 Gold XAUUSD Fed Inflation Commodities
dropped to 7.1% YoY in November versus 7.3% expected and 7.7% prior. Further, the CPI ex Food & Energy, known as the Core CPI, also declined to 6.0% YoY during the stated month compared to 6.1% market forecasts and 6.3% previous readings. “Traders of futures tied to the Federal Reserve’s policy rate boosted bets Tuesday that the U.S.
Moving on, Gold traders may witness sidelined moves ahead of FOMC. Given the dovish expectations, with 50 bps rate hike on the card, surprise hawkish signals will be enough to recall the XAU/USD bears.Gold price flirts with a six-month-old horizontal resistance surrounding $1,810 after faking the rising wedge confirmation the previous day. That said, the yellow metal also reversed from the stated one-month-old wedge’s upper line while consolidating the biggest daily gains in a fortnight.
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