Spot Gold retreated from an intraday high of $2,319.79, with XAU/USD now trading below $2,310.00.
XAU/USD Current price: $2,307.17 Financial markets maintained a cautious stance ahead of upcoming US events. Fed eral Reserve monetary policy announcement and US inflation coming up next. XAU/USD under selling pressure near $2,300, bearish breakout around the corner. Financial markets maintained the wait-and-see stance throughout Tuesday, as the macroeconomic calendar had nothing relevant to offer, and with first-tier events coming on Wednesday.
Ahead of the FOMC announcement, the country will release the May Consumer Price Index , foreseen up 0.1% MoM and 3.4% YoY, the latter matching the April reading. The figures tend to impact the FX board, despite the Fed's preference to look at the Personal Consumption Expenditures Price Index when making monetary policy decisions. XAU/USD short-term technical outlook The daily chart for XAU/USD shows that bears retain control.
Gold Recommended Fed Inflation
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