Gold Price Forecast: XAUUSD eyes $1,800, more pain ahead

Gold Price remains exposed to downside risks. As FXStreet’s Dhwani Mehta notes, XAUUSD eyes a retest of the $1,800 mark.

Inflation-led growth fears undermine risk sentiment amid geopolitical woes

“Gold is extending losses for the third straight day, heading further towards the $1,800 mark, as the US dollar finds fresh demand amid a souring market mood.”

“ Inflation-linked growth risks continue to loom amid brewing geopolitical tensions between US-China over Taiwan while Russia’s nuclear drills also spooked investors’ sentiment. The dollar remains the preferred safe-haven asset while the yields preserve the previous gains.”

“Looking ahead, a fresh batch of US macro releases will be closely followed for fresh hints on the economy, with the ADP jobs and ISM Manufacturing PMI standing. The downbeat data could add to the slowdown worries, which will bode well for the greenback and knock XAUUSD down further.”