Gold Price Forecast: XAU/USD is in pressure mode as markets reassess banking crisis, inflation woes

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• Gold price remains in a bearish consolidation mode, mildly bid of late.
• Traders recheck previous optimism surrounding banking environment and prod XAU/USD buyers.
• Mixed concerns about inflation, as well as central bank moves, also restrict the Gold price momentum.
• XAU/USD bears need validation from higher inflation, fresh rejection of banking crisis.

Gold price (XAU/USD) stays defensive around $1,972, after snapping a two-day losing streak the previous day, as bulls seek more clues amid a cautious mood ahead of the top-tier data. Also challenging the XAU/USD price could be the mixed concerns about the market’s recent optimism that the banking turmoil is over. Furthermore, the month-end positioning and a light calendar are extra catalysts that restrict the Gold price moves of late. However, the economic line is about to be populated and hence can offer an active session to the commodity traders moving forward.