Gold Price Forecast: XAU/USD retreat post-Fed minutes as Greenback hits new high

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• Gold slumps to two-week low after Fed minutes show no dovish tilt, despite acknowledging inflation progress.
• XAU/USD struggles with over 1% loss as US Dollar Index surges 1.11%, reflecting robust USD performance.
• Market eyes upcoming US ADP Employment data, Jobless Claims, and PMIs, with focus on December’s Nonfarm Payrolls report.

Gold price slid during the last hour on Wednesday after the US Federal Reserve (Fed) released December’s meeting minutes, which didn’t deliver any dovish hints. Therefore, the Greenback resumed to the upside and reached a new 11-day high before retracing somewhat. At the time of writing, XAU/USD is trading at $2040 per troy ounce, down by more than 0.90%.