Gold Price Forecast: XAU/USD approaches $1,970 amid a sell-off in USD Index, US CPI and Fed policy eyed Gold XAUUSD Fed Inflation SupportResistance
Gold price is approaching the $1,970.00 resistance as the USD Index has resumed its downside journey.More interest rate hikes by the Fed are less certain as tight lending conditions by US commercial banks have trimmed liquidity. is marching towards the crucial resistance of $1,970.00 after a strong recovery from $1,956.00 in the London session. The precious metal has attracted significant bids after a sell-off in the US Dollar Index .
is looking to resume its downside journey amid the inability of sustaining above the intermediate support around 103.30. Contrary to that, the US Treasury yields are choppy. The returns generated on 10-year US Treasury bonds are holding above 3.75%.Gold price is consolidating in a narrow range of $1,954-1,970 on a two-hour scale, which indicates a
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