Gold Price Forecast: XAU/USD bounces off $1,860 support amid Fed, China concerns Gold XAUUSD RiskAppetite China Fed
US Dollar bulls struggle ahead of Fed Chair Powell’s speech.price consolidates the recent losses as it prints mild gains around $1,875 during early Monday, printing the first positive day in three around the one-month low. In doing so, the precious metal cheers the US Dollar’s inability to stay firmer, as well as takes clues from the US-China tussles, ahead of this week’s key events. remains sidelined around 103.00, after posting a two-day rebound from the lowest levels since April 2022.
Amid these plays, S&P 500 Futures extend the previous day’s pullback from the highest levels since August, down 0.30% intraday near 4,140 by the press time. On the same line, the US 10-year Treasury bond yields remain firmer for the third consecutive day, to 3.56% by the press time, following the biggest weekly jump since late September 2022.
The corrective pullback also takes clues from the oversold RSI . However, bearish MACD signals and the inability to cross the 200-SMA hurdle keep Gold sellers hopeful.
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