Fundamental News - XAUUSD

Gold Price is in a narrow consolidative range so far this Thursday, having stalled its rebound just shy of the key $1,960 level.

Gold Price could see further downside risks in the near term on an increasingly hawkish Fed, which has sent the US 10-year real yields into the positive territory for the first time in two years.

The sentiment on global markets will be also closely followed for its impact on the safe-haven Gold Price amid uncertainty over the Russia-Ukraine war, concerning inflation levels that threaten the economic recovery worldwide.

The main event risk for Gold Price on Thursday remains Fed Chair Jerome Powell’s appearance at the International Monetary Fund (IMF) Spring Summit. His comments will hold the key, as they come just before the bank enters its "blackout" period.

Powell may fail to excite the dollar bulls and could emerge as a boon for Gold Price, as he may refrain from hinting at an aggressive tightening outlook after the US core inflation eased a bit in March.