Gold Price Forecast: XAU/USD resilient despite Fed’s rate hike speculations on solid US data

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• Gold price regains momentum above $1900 despite increased odds of Fed rate hikes.
• US economic data underscores robust growth, pushing XAU/USD to test 200-day EMA.
• Treasury bond yields soar, underpinning projections of higher rates and potential headwinds for Gold demand.

Gold price recovers some ground after sliding below the $1900 figure for the first time since March 15, 2023, gains some 0.09%, after upbeat economic data from the United States (US) increased speculations the Federal Reserve (Fed) would proceed with additional rate hikes. In addition, the data pushed back against “hard landing” prospects, with the economy showing a strong pace of growth. The XAU/USD is trading at $1909.65 after hitting a daily low of $1893.17.