Gold Price Forecast: XAU/USD eases from eight-month high, downside remains cushioned – by hareshmenghani Gold Commodities Fed Inflation SEO
l heading into the North American session. Currently placed just above the $1,875 level, the downside for the XAU/USD remains cushioned amid expectations for a less aggressive policy tightening by the Federal Reserve .Friday’s mixed jobs report from the showed a slowdown in wage growth and pointed to signs of easing inflationary pressures.
Heading into the key data risk, sliding US bond yields could act as a headwind for the Greenback in the absence of any relevant market-moving economic releases from the US. This might continue to lend some support to the Gold price. Apart from this, traders might take cues from the broader risk sentiment to grab short-term opportunities around the XAU/USD.From a technical perspective, any meaningful corrective slide is likely to find decent support near the $1,865-$1,860 resistance breakpoint.
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