Gold Price Forecast: XAU/USD fits above $1960 as USD looks fragile, US CPI hogs limelight Gold Commodities XAUUSD CPI Fed
The US Dollar Index is looking vulnerable near its two-week low of around 103.20 as the market participants are anticipating that the energy component will keep significant pressure on the US inflation.
The pressure of higher chances for a neutral Fed policy is visible on US Treasury yields. The return delivered on 10-year US Treasury bonds has dropped to near 3.72%.Investors should be prepared for a sheer volatile action by the Gold price ahead of the US inflation data.
Adding to that, the Relative Strength Index is oscillating in the 40.00-60.00 range, which indicates that investors await crucial data.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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