Gold Price Forecast: XAUUSD advances towards $1,800 amid a decline in odds for hefty Fed’s rate hike – by Sagar_Dua24 Gold XAUUSD Fed Inflation RetailSales
or market participants in the past week after the US October inflation report disclosed easing price pressures. The
are set for further rally towards the crucial resistance of $1,800.00 as a decline in the inflationary pressures is promising that the Federal Reserve won’t look for hefty rate hikes in its December monetary policy. after plummeting US Consumer Confidence has also strengthened the gold’s rally. The sentiment data dropped to 54.7 vs. the projections of 59.5. Going forward, the price action in the US bond market will be keenly watched after an extended weekend.
Contrary to the improved risk appetite due to a decline in the US inflation rate, economists at Danske Bank are of the view that price pressures in the US are set to persist. “While markets have reacted very positively to the October CPI print, we continue to see further risks of more persistent inflation and think it is too early to trade a clear Fed pivot.”data will remain in the spotlight. The monthly data is seen higher at 0.9% vs. the prior release of 0%.
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