Here is the update on XAUUSD news today, February 12, 2024. The price of gold (XAU/USD) continues to remain in a consolidative range ahead of the European session on Monday, approaching the monthly lows that occurred last week. The increasing confidence that the Federal Reserve (Fed) will maintain high interest rates for a longer period, along with a strong US economy, supports the rise in US Treasury yields. Nevertheless, the US Dollar (USD) is not gaining significant attraction due to uncertainty regarding rate cuts by the Fed.
 
Traders tend to exercise caution and wait for the release of US consumer inflation figures on Tuesday as a guide for future Fed policy. This could influence USD price dynamics in the short term and provide new direction for gold, which is currently hindered by a bullish sentiment in the equity markets.
 
Daily Market Movers Summary: Gold prices are fluctuating amid uncertainty over Fed rate cuts.
 
  1. The Federal Reserve is expected to maintain high interest rates, hindering non-yielding gold.
  2. Hawkish statements from FOMC members have lowered expectations for rate cuts.
  3. Dallas Fed President Lorie Logan wants more evidence on inflation before lowering rates.
  4. Atlanta Fed President Raphael Bostic assesses that inflation is already high and the US is heading towards economic recovery.
  5. Revised US consumer prices increased in October and November.
  6. The US Dollar struggles to attract attention amid uncertainty over Fed rate cuts.
  7. Traders are waiting for US consumer inflation figures on Tuesday before placing bets.
  8. Trading volume is thin due to holidays in Japan and China, limiting price movement.
  9. The Israeli military has completed a series of strikes in southern Gaza, reducing concerns over the Israel-Palestine conflict.
 
Warning!
 
That is the explanation regarding "XAUUSD Today: February 12, 2024 - Gold Remains 'Low Profile' Before US CPI." This analysis is based on views from fundamental and technical perspectives from reliable sources and should not be considered advice or solicitation. Always remember that this content aims to enrich readers' information. Always conduct independent research first regarding other forex information to use as a reference in your trading.
 
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