Gold prices remain sidelined between key trend lines, below crucial SMA convergence.Market sentiment dwindles as US inflation-matched forecasts but Fed rate hike talks stay on the table.US Treasury yields struggle to extend first weekly gains in five, S&P 500 Futures post mild gains.XAU/USD is at the mercy of the Fed, ascending triangle pattern in play
Update: Gold price is feeling the pull of gravity, as it eases from daily highs after facing rejection once again at $1,790. The latest leg down in gold price can be associated with an uptick in the US Treasury yields, aided by the upbeat risk sentiment. Tame US inflation data released on Friday eased worries over aggressive Fed rate hikes, underpinning the non-interest-bearing gold.
From a broader perspective, gold price extends its sideways trading between $1,770-$1,795 seen last week. Markets stay focussed on the Fed policy decision for a fresh direction in the bright metal.