Gold price (XAU/USD) trades directionless ahead of US President Joe Biden’s visit to Israel amid deepening Middle-East tensions and the speech from Fe
Gold price trades in a narrow range as investors digest tensions in the Middle East. Fed policymakers see interest rates as sufficiently restrictive due to higher US Treasury yields. US Retail Sales growth is seen slowing to 0.3% in September. deral Reserve Chair Jerome Powell, which is expected to provide significant guidance on interest rates.
The US Dollar index finds buying interest near 106.20. A sideways move is anticipated ahead of the Retail Sales data for September. Analysts at SocGen expect a mild 0.3% MoM increase for Retail Sales for the aggregate but note that higher gasoline prices are partially responsible for the gain. Higher-than-expected consumer spending figures could lift chances of more interest rate increases from the Fed. Technical Analysis: Gold price oscillates near $1,920 Gold price trades sideways near $1,920.
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