Gold price (XAU/USD) extends the previous pullback from 13-month high even as Easter Monday holiday restricts the market moves. In doing so, the precious metal takes clues from the geopolitical challenges to the market sentiment. Also allowing the XAU/USD bulls to take a breather, after posting the first weekly gain in three, is the cautious mood ahead of this week’s top-tier and events, namely the United States Consumer Price Index (CPI) and the latest Federal Open Market Committee (FOMC) Monetary Policy Meeting Minutes.
It’s worth noting that the fears of recession joined downbeat US data to allow the Gold price to refresh multi-month high the previous week. However, firmer US employment numbers and the following increase in the Federal Reserve (Fed) hawkish bets proded the bullion afterwards.
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