• Gold Price remains dicey as bears attack the key support while seeking confirmation of hawkish Fed bias.
• Fed’s preferred inflation, FOMC Minutes and NFP will be crucial to watch for clear XAU/USD directions.
• US-China headlines, central bankers’ speeches may entertain the Gold sellers.

Gold Price (XAU/USD) lacks clear directions even as bears keep the reins at the lowest levels in three months. That said, the metal’s latest inaction could be linked to the cautious mood ahead of the key US inflation clues, as well as amid mixed economics from China. Additionally, a lack of market participation amid the quarter-end positioning also seem to limit the XAU/USD moves of late.

The yellow metal dropped below $1,900 threshold to refresh a 3.5-month low the previous day as US data bolstered the bets that the Fed will announce more rate hikes. On the same line were comments from Fed Chair Jerome Powell and Atlanta Federal Reserve President Raphael Bostic. It should be noted that the People’s Bank of China’s (PBoC) sustained defense of Yuan, even at major costs, join the below 50.0 prints of the China PMI to also exert downside pressure on the Gold Price.

Elsewhere, firmer equities and Treasury bond yields allow traders to park their funds elsewhere and keeps the XAU/USD bears hopeful