Gold Price Forecast: XAU/USD bulls need validation from $1,902 and US inflation expectations Gold XAUUSD RiskAppetite Inflation Fed
-inspired rally. In doing so, the yellow metal also portrays the market’s cautious mood ahead of more clues for the US inflation conditions and consumer sentiment. Additionally, the fresh fears surrounding the US-China ties act as additional challenges for the XAU/USD buyers.
While portraying the mood the S&P 500 Futures remains indecisive even if Wall Street closed with gains while the US 10-year Treasury yields lick its wounds near 3.46% by the press time. Talking about the Fedspeak, Federal Reserve Bank of Philadelphia President Patrick Harker was the first to flag easy rate hikes after the US CPI and weighed on the US Dollar. On the same line, Richmond Federal Reserve President Thomas Barkin mentioned that it"makes sense" to steer more deliberately as the Fed works to bring inflation down. However, St.
upside. It’s worth noting that the US 5-year Consumer Inflation Expectations will be crucial to watch.Gold price pokes the top line of a three-week-old bullish channel as the RSI line stays inside the overbought territory, which in turn suggests the metal’s pullback towards a one-week-old support line, close to $1,880 by the press time.
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