Gold Price Forecast: XAU/USD eyes a break above $1,800 ahead of US Inflation – by Sagar_Dua24 Gold XAUUSD Fed Inflation DollarIndex
its recovery above the round-level resistance of $1,800.00 as the risk-appetite theme has regained strength. On a broader note, the risk profile could display some volatile moves as investors have shifted their focus toward the release of the US Consumer is struggling to conquer the immediate resistance of 105.00 as the broader theme doesn’t support a risk-aversion mood. S&P500 showed a precautionary mood on Friday ahead of the last Federal Reserve ’s monetary policy meeting of CY2022.
As per the projections, the headline CPI is expected to remain stable at 7.7%. While the core inflation could display a slight improvement to 6.4% from the former release of 6.3%. The inflationary pressures could display a surprise jump as labor demand remained extremely tight in November and the service sector is booming led by solid demand.On an hourly scale, Gold price is aiming to test a fresh five-month high around $1,810.00 on an hourly scale.
Meanwhile, the Relative Strength Index is looking to shift into the bullish range of 60.00-80.00 for activating an upside momentum.
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