Gold Price Forecast: XAU/USD to struggle on any surprises to the upside in US inflation – ANZ

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13 September 2023

Gold Price Forecast: XAU/USD to struggle on any surprises to the upside in US inflation – ANZ

Gold price is extending the previous decline while heading toward the $1,900 threshold. Economists at ANZ Bank analyze the yellow metal’s outlook ahead of the key US Consumer Price Index (CPI) data.

All eyes stay focused on the all-important US inflation data

Gold moved further lower after a breach of key technical support sparked selling. The market is also cautious ahead of US CPI data.

Any surprises to the upside could raise expectations of another rate hike, which would be negative for the precious metal.

See – US CPI Preview: Forecasts from 10 major banks, strong headline with rising energy prices

Gold Futures: Further retracements in the pipeline

EUR/USD: The threat of capitulation can drag the pair closer to parity – SocGen

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