#XAUUSD @ 1,858.76 Gold Price Forecast: to sink toward $1,825 on hotter-than-expected US CPI
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Gold price rebounds from week lows at $1,850. But XAU/USD could resume drop toward $1,825 on hot US Consumer Price Index, FXStreet’s Dhwani Mehta reports.
“A hot US Consumer Price Index print could fuel a fresh downswing in the bright metal, breaking below the $1,850 support. Gold bears will target the January 5 low of $1,825 on sustained selling.”
“Should the US inflation data revive the dovish Federal Reserve outlook, Gold bulls will get a fresh life, motivating them to embark on a recovery toward the $1,870 supply zone. The next upside target is envisioned at the February 9 high at $1,890.”
See – US CPI Preview: Forecasts from 12 major banks, inflation continues to decelerate
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