Gold Price Forecast: XAU/USD flat-lines around $1,785, awaits upcoming FOMC meeting – by hareshmenghani Gold Commodities Fed Inflation SEO
Focus remains on next week’s key data/event risk from the United States
Hence, the focus will remain glued on the upcoming Federal Open Market Committee monetary policy meeting on December 13-14. Heading into the key central bank event risk, investors will take cues from the release of the latest consumer inflation figures from the United States. The crucial CPI report plays a key role in influencing the Federal Reserve's policy
. This, in turn, should determine the near-term trajectory for Gold price, which is also seen as a hedge against inflation.In the meantime, a goodish rebound in the US Treasury bond yields is seen acting as a tailwind for the US Dollar and keeping a lid on the Dollar-denominated Gold price. Apart from this, a generally positive risk tone, bolstered by the optimism over the easing of COVID-19 curbs in China, contributes to capping the upside for the safe-haven XAU/USD.
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