Gold Price Forecast: XAU/USD senses selling pressure around $1,720, US Inflation hogs limelight – by Sagar_Dua24 Gold XAUUSD Fed Inflation RiskAppetite
displayed a weak pullback move after a firmer decline to near $1,711.65 and is expected to remain sideways as investors are expected to remain on the sidelines ahead of the USAs gasoline prices have fallen dramatically in the US region and the soaring interest rates by the Federal Reserve have squeezed, consensus for the US inflation is hinting at a decent decline ahead. The US inflation is expected to land at 8.1%, lower than the prior release of 8.5% on an annual basis.
Also, the Relative Strength Index is oscillating in a 40.00-60.00 range, which supports a consolidation ahead.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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