- Gold price stays depressed after probing five-week uptrend with bearish candlestick on weekly, support line break.
- Federal Reserve interest rate hikes in question as United States data flash mixed signals.
- Fears of US recession join easing inflation woes to challenge US Dollar buyers, probing XAU/USD bears.
- Hawkish Fed, upbeat US statistics could recall Gold sellers.
Gold price (XAU/USD) holds lower ground near $1,925 after posting an indecisive weekly closing as the metal traders await the key United States data and the Federal Reserve’s (Fed) monetary policy decision. Also important will be central bank meetings of the European Central Bank (ECB), Purchasing Managers’ Indexes data and the US employment numbers for January.
In doing so, the XAU/USD portrays the market’s inaction, as well as cautious mood ahead of the aforementioned catalysts, amid the absence of Chinese traders, Fed/ECB blackout and also due to the mixed US statistics.
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