• Gold price remains mildly offered while snapping two-day uptrend.
• Sluggish markets allow XAU/USD bulls to take a breather ahead the key US data.
• Fed concerns, banking turmoil keeps Gold buyers hopeful.
• XAU/USD bulls need downbeat US PMI, Durable Goods Orders to cross $2,015 key hurdle.

Gold price (XAU/USD) renews its intraday low around $1,987 during the first loss-making day in three amid early Friday morning in Europe. In doing so, the XAU/USD traces downbeat US Treasury bond yields amid a sluggish end of an active week.

That said, the dovish concerns surrounding the Federal Reserve’s (Fed) next move, as well as the downbeat yields, challenge the Gold price traders even as banking fears join hopes of upbeat data and market consolidation to weigh on XAU/USD prices of late.

Fed’s heavy lending amid the banking rout flags fears of a ballooning Fed balance sheet, which in turn renews hawkish calls for the US central bank’s next moves and lures the Gold bears near the multi-day high.

However, the mixed US data and the latest Fed statement appear to challenge the policy hawks. Also challenging the US Dollar could be the comments from key market players like DoubleLine’s Gundlach who recently reiterated his dovish bias for the US central banks.

Elsewhere, comments from US Treasury Secretary Janet Yellen and the Chair of the Basel Committee on Banking Supervision, portraying the market’s fears of banking fallouts, also weigh on the market’s mood and challenge the XAU/USD buyers. However, the recent retreat in the market’s consolidation allows the Gold buyers to consolidate recent gains ahead of the key data/events.

While portraying the mood, US 10-year and two-year Treasury bond yields remain depressed at around 3.38% and 3.78% respectively by the press time whereas the S&P 500 Futures struggle to copy Wall Street’s positive moves.

Among the important US data are the first readings of the US S&P Global PMIs for March and Durable Goods Orders for February.