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Gold price recovery linked to the softer US inflation clues

Gold Price (XAU/USD) remains sidelined around $1,920, struggling to extend the previous day’s recovery, after declining in the last three consecutive weeks while also posting the first quarterly loss in three. That said, the yellow metal’s latest recovery could be linked to the softer US inflation clues and downbeat spending, as well as the broadly risk-on mood. However, the anxiety ahead of this week’s Federal Open Market Committee (FOMC) Monetary policy meeting Minutes and the US Nonfarm Payrolls (NFP) limit the XAU/USD moves of late.

Gold Price rose the most in a fortnight on Friday after the United States inflation clues and spending figures failed to back the hawkish Federal Reserve (Fed) concerns. Even so, the upbeat United States growth figures versus the mixed European number defend the US Dollar bulls and weigh on the XAU/USD ahead of the key week.

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