Traders now eye macro data from United States for a fresh impetus

That said, the slightly oversold Relatively Strength Index (RSI) on the daily chart is holding back traders from placing fresh bearish bets around the USD and acting as a headwind for the Gold price. Traders also prefer to wait on the sidelines ahead of Friday's US macro releases, monthly Retail Sales figures and the Preliminary Michigan Consumer Sentiment Index, which might influence the USD price dynamics and provide some impetus to the XAU/USD.