- Gold Price remains pressured towards the key SMA confluence after three-day losing streak from multi-week high.
- US Dollar recovery jostles with risk-on mood to keep XAU/USD sellers hopeful.
- Gold sellers need hawkish Federal Reserve announcements and United States growth, inflation data as Fed’s 0.25% rate hike is given.
- ECB, BoJ monetary policy meetings, PMIs also populate calendar and stand tall to direct XAU/USD moves.
Gold Price (XAU/USD) remains defensive around $1,960 as bulls and bears jostle amid the early hours of the key week comprising a slew of top-tier data/events, stabilizing after a three-day downtrend. That said, the XAU/USD dropped in the last three consecutive days on the US Dollar’s notable run-up. However, the market’s risk-on mood and cautious sentiment ahead of this week’s A-list events put a floor under the Gold Price.
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