Gold Price Forecast: XAU/USD retraces losses as US yields and Oil prices ease - Mitrade

AI desk brief

Gold (XAU/USD) is retracing Monday’s losses as easing US Treasury yields, a 0.25% drop in the DXY and a pullback in oil prices support the metal ahead of Wednesday’s CPI and Thursday’s PPI prints. Price has bounced from around $4,150 and is back near $4,190, but remains capped below the recent range high at $4,230.

Technically, a break above $4,230 opens the way to $4,310 and then roughly $4,400, while failure to hold the $4,150 trendline support would put last week’s lows at $4,071 and the $4,000 psychological level back in play. The article notes the market has largely priced out an October Fed hike, with only a 20% chance, though December tightening expectations are still alive.