{"id":11189,"date":"2022-06-10T04:42:32","date_gmt":"2022-06-10T04:42:32","guid":{"rendered":"https:\/\/www.xtreamforex.com\/?p=11189"},"modified":"2022-06-10T04:42:32","modified_gmt":"2022-06-10T04:42:32","slug":"xau-usd-is-at-a-crossroads-and-us-inflation-is-the-key","status":"publish","type":"post","link":"https:\/\/www.xtrememarkets.com\/MU\/xau-usd-is-at-a-crossroads-and-us-inflation-is-the-key\/","title":{"rendered":"XAU\/USD is at a crossroads, and US inflation is the key"},"content":{"rendered":"<h1><strong>XAU\/USD is at a crossroads, and US inflation is the key<\/strong><\/h1>\n<p>Gold Price found strong bids just below $1,842 and mounted a nice return to close a stormy Thursday with minor losses at $1,848. The shiny metal remained turbulent, but stayed within its usual price range of $1,850. Financial markets were dominated by risk-off flows. Investors were nonetheless concerned about global growth, especially after the European Central Bank (ECB) hinted at a 50 basis point rate hike in September to temper rising inflation expectations.<\/p>\n<p>Investors were concerned that major central banks&#8217; aggressive tightening policies to combat rising prices could push the global economy into recession. As a result, alongside continued increase in Treasury yields, safe-haven demand for the US dollar soared, sending the shining metal back into the red zone. A broad sell-off on Wall Street indices, notably in tech equities, was driven by impending growth uncertainties paired with pre-US inflation release anxiety, helping <a href=\"https:\/\/www.xtrememarkets.com\/mu\/commodities-category\/\"><strong>XAUUSD<\/strong><\/a> find a floor.<\/p>\n<p>As traders prepare for the all-important US inflation report, which may provide fresh signals on the Fed&#8217;s rate rise forecast, the gold price is nursing losses below $1,850. The main event risk to finish this week, with the ECB decision out of the way, is expected to have a substantial impact on market sentiment as well as dollar valuations. In May, the US Consumer Price Index (CPI) is expected to remain unchanged at 8.3% YoY, while the core CPI is expected to fall to 5.9% YoY from 6.2 percent previously.<\/p>\n<p>If the inflation report surprises markets to the upside, it might signal a faster and larger Fed rate hike, fueling a new surge in the dollar at the expense of gold. A surprising decline in the US CPI could send gold prices soaring, reigniting the debate over peak inflation and easing pressure on the Fed to act forcefully in September.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>XAU\/USD is at a crossroads, and US inflation is the key Gold Price found strong bids just below $1,842 and mounted a nice return to close a stormy Thursday with minor losses at $1,848. The shiny metal remained turbulent, but stayed within its usual price range of $1,850. Financial markets were dominated by risk-off flows.<\/p>\n... <a href=\"https:\/\/www.xtrememarkets.com\/MU\/xau-usd-is-at-a-crossroads-and-us-inflation-is-the-key\/\">continue reading<\/a>.","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[18],"tags":[38,39,272,297,58,35,60,55,52,201],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v16.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>XAU\/USD is at a crossroads, and US inflation is the key | Xtream markets<\/title>\r\n<meta name=\"description\" content=\"Gold Price found strong bids just below $1,842 and mounted a nice return to close a stormy Thursday with minor losses at $1,848.\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.xtrememarkets.com\/MU\/xau-usd-is-at-a-crossroads-and-us-inflation-is-the-key\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" 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