Gold Price Forecast: XAU/USD eases amid a better mood, retains the bullish stance

Spot Gold retreated from multi-month highs on Monday but met buyers on a dip to the $1,960 price zone. XAU/USD trades around $1,977 a troy ounce in t

XAU/USD Current price: $1,977.19 Government bond yields soared amid speculation of upcoming central banks’ decisions. Speculative interest keeps an eye on the Middle East conflict for market direction. XAU/USD retains its bullish potential despite easing demand for safety. he American session, trimming most of its pre-opening losses. Financial markets started the week with cautious optimism, as at least the Middle East conflict between Israel and Hamas did not escalate.

The European Central Bank will decide on monetary policy next Thursday, while the US will simultaneously release the first estimate of the Q3 Gross Domestic Product . On Friday, the US will release the September Personal Consumption Expenditures Price Index, the Federal Reserve 's favorite inflation gauge. XAU/USD short-term technical outlook The daily chart for XAU/USD shows it trades just below Friday’s closing level, with bulls still in control.

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