Gold Price Forecast:
hurdle ahead of US inflaton (XAU/USD) prods a two-day downtrend with latest corrective bounce off $1,950 grinding higher as it approaches the key $1967 resistance confluence during early Tuesday in Asia,close to $1958 at the latest. That said, the XAU/USD began the week on a back foot amid the market's indecision ahead of the top-tier central bank events and doubts about the major consensus favoring no rate hike from the Faderal Reserve(Fed).However,the US Dollar's failure to stay strong joins the mixed headlines about the central banks and Treasuries, as well as geopolitics, to allow the precious metal to consolidate recent losses ahead of the key United States Consumer Price Index(CPI) data for May.
hurdle ahead of US inflaton (XAU/USD) prods a two-day downtrend with latest corrective bounce off $1,950 grinding higher as it approaches the key $1967 resistance confluence during early Tuesday in Asia,close to $1958 at the latest. That said, the XAU/USD began the week on a back foot amid the market's indecision ahead of the top-tier central bank events and doubts about the major consensus favoring no rate hike from the Faderal Reserve(Fed).However,the US Dollar's failure to stay strong joins the mixed headlines about the central banks and Treasuries, as well as geopolitics, to allow the precious metal to consolidate recent losses ahead of the key United States Consumer Price Index(CPI) data for May.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.