• Gold Price remains on the front foot for the third consecutive day.
• XAU/USD bulls attack short-term key hurdle amid softer US Dollar, risk-on mood.
• China manages to propel sentiment and weigh on US Dollar ahead of mid-tier data.
• Upbeat US statistics, hawkish Fedspeak needed to stop the Gold buyers.

Gold Price (XAU/USD) clings to mild gains around the intraday high as it prints a three-day winning streak amid cautiously optimistic markets. In doing so, the precious metal cheers the US Dollar’s positioning for the key data, as well as the risk-positive headlines from China, amid dicey trading hours on Tuesday.

People’s Bank of China’s (PBoC) lower-than-expected fixing of the USD/CNY price joined the alleged selling of the US Dollar by the Chinese state banks in the offshore currency markets to weigh on the USD and propel the Gold Price. Additionally, news the Asian lobbyists are advocating for easies rules for Chinese equities’ listing and headlines suggesting an end to fears surrounding Moscow’s mutiny allow the traders to remain optimistic and favor the Gold Price.

However, Monday’s US activity numbers and hawkish comments from the Fed officials, as well as the last week’s upbeat testimony from Fed Chair Jerome Powell, challenge the Gold buyers. Hence, US Durable Goods Orders for May, expected -1.0% versus 1.1% prior, as well as the US Conference Board’s (CB) Consumer Confidence for June, expected to arrive at 103.90 versus 102.30 prior, will be in the spotlight for intraday directions of the Gold price.