Gold price forecast: XAUUSD holds below $1,682 as DXY eases ahead of US inflation.
The price of Gold is stable following a downturn in the crucial week. The US currency does not help China-related risk aversion, and the Fed is still determining its next move. As pivot negotiations intensify, US inflation data and Fedspeak will be important for the near-term trajectory of the XAUUSD.
As we enter Monday’s European session, the intraday decline in the price of Gold (XAUUSD) is still just 0.5 percent as it moves up to $1,670.
The Gold captures the market’s uncertainty ahead of the crucial US Consumer Price Index (CPI) data for October, due for release on Friday, despite the recent discussions about the Fed’s turn and the mixed US employment report. However, it should be noted that the risk-off sentiment sparked by China puts downward pressure on the Gold Price.
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