Gold Price Forecast: XAU/USD could gather bullish momentum on a ‘Santa rally’ Gold XAUUSD RiskAversion UnitedStates
“The Conference Board will release the Consumer Confidence Index data for December on Wednesday. In November, the one-year inflation rate expectation component of the survey rose to 7.2% from 6.9% in October. Another increase in that component should help the US T-bond yields edge higher and weigh on XAU/USD and vice versa.”figures for November. On a monthly basis, Core PCE inflation is forecast to rise by 0.4%.
“Market participants will pay close attention to risk mood. Following the dismal performance of Wall Street’s main indexes, investors could look to take advantage of low prices, opening the door for the infamous ‘Santa rally.’ In case major equity indices in the US start pushing higher, XAU/USD will gather bullish momentum.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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