Gold Price Forecast: XAU/USD fades upside momentum on firmer United States data, Treasury bond yields XAUUSD SEO YieldCurve Fed Gold
k the latest run-up, especially amid upbeat United States data and Treasury bond yields. It’s worth noting, however, that the softer US Dollar and China-linked market optimism puts a floor under the XAU/USD price amid a lack of major data/events.Gold price pares recent gains while easing from the short-term key technical hurdle surrounding $1,845 after the United States ISMdetails renew inflation fears. That said, the headlines gauge rose to 47.7 from 47.4 prior, versus 48.0 expected.
The pullback move also gained support from the Relative Strength Index line, placed at 14, as it hit the overbought territory.
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