💰 Gold rebounds as $USD bulls catch a breath ahead of US CPI data 🔍 Investors stay cautious amid US-Sino concerns and China’s growth worries 🐻 $XAUUSD sees downside risks due to a bearish technical setup Full forecast ⏩ Forex Commodities
llar buyers take a breather, awaiting the critical US inflation data for a fresh directional impetus.Therefore, Gold price is making another recovery attempt from four-week troughs of $1,914 early Thursday. Markets trade with caution, reflective of the mixed tone in the Asian indices even though the US S&P 500 futures post small gains.
According to CME Group’s FedWatch Tool, money markets are pricing 86.5% odds for the Fed to pause its tightening cycle at the September meeting while predicting the next move as a cut, likely in the spring of next year.rate hikes, triggering a fresh upswing in the US Dollar alongside the US Treasury bond yields. Hot US inflation data is likely to exacerbate the pain in the Gold price, opening floors for a test of the levels below the $1,900 mark.
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