Gold Price Forecast: XAU/USD consolidates in a range, awaits key central bank meetings – by hareshmenghani Gold Commodities Fed Recession SEO
the $1,925 region, the XAU/USD remains confined within Friday's trading range as investors await this week's key central bank event risks before placing fresh directional bets.The Federal Reserve will announce its decision at the end of a two-day monetary policy meeting on Wednesday. The markets have been pricing in a greater chance of a 25 basis points rate hike amid signs of easing inflationary pressures in the United States .
, which decelerated to the 4.4% YoY rate in December from the 4.7% previous. This, in turn, keeps the US Dollar bulls on the defensive near a multi-month low and lends some support to the Gold price.That said, the US fourth quarter Gross Domestic Product print released last week pointed to a resilient economy, which could allow theto stick to its hawkish stance for longer. This triggers a fresh leg up in the US Treasury bond yields and keeps a lid on the non-yielding Gold price.
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