Gold price (XAU/USD) remains steady around $1,900 as bulls take a breather around the eight-month high during early Friday, following the US inflation-inspired rally. In doing so, the yellow metal also portrays the market’s cautious mood ahead of more clues for the US inflation conditions and consumer sentiment. Additionally, the fresh fears surrounding the US-China ties act as additional challenges for the XAU/USD buyers.
That said, Reuters cites anonymous sources to state that the White House will discuss a recent crackdown on exports of chip-making tools to China with Japanese and Dutch officials during upcoming visits. The news also mentions that the White House Officials will not result in "immediate" pledges from the two countries to impose similar curbs. The news refreshes the geopolitical tussles between the United States and China and puts a floor under the Gold price.
Following the US CPI, the Fed Fund Futures tied to the policy rate implied a nearly 100% chance of a 0.25% Fed rate hike in February while the odds favoring a 50 bps rate hike in the said month slumped to 8.0%.
Pullback of GOLD expected to come...
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