Gold Price Forecast: XAU/USD retreats on sluggish Treasury yields ahead of United States inflation Gold XAUUSD SEO Inflation Fed
. In doing so, the XAU/USD snaps a three-day winning streak as the US Treasury bond yields seesaw after a notable slump.Gold price managed to post the biggest daily jump since November 2022 as the United States Treasury bond yields nosedived the previous day, mostly inactive of late. That said, the US two-year Treasury bond yields marked the biggest daily slump since October 1987 by declining more than 13.
Moving on, the pre-data anxiety may restrict immediate XAU/USD moves and can allow the bullion to pare some of the latest gains. However, hopes of the US inflation data providing any major market move are lesser considering the latest fallouts of the US banks and the trader’s attention on the yields. It should be noted, however, Forecasts suggest the US CPI is likely to ease to 6.0% YoY versus 6.4% prior while CPI ex Food & Energy may slide to 5.5% YoY from 5.6% prior.
That said, a one-month-old previous resistance line, close to $1,847, precedes the 50-SMA of around $1,840 and an upward-sloping trend line from late February, near $1,812, to act as the final defenses of the Gold buyers.
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