Gold Price Forecast: XAU/USD to dip below $1,800 on strong US NFP report – Commerzbank

Whether XAU/USD will now fall below the $1,800 threshold will depend chiefly on the US labour market data today. The US inflation data and the ECB will be the focus on the Gold market next week, economists at Commerzbank report. 

Hawkish ECB to weigh on Gold 

“If US labour market data turn out once again to be more buoyant than expected, the Gold price risks sliding further to below the $1,800 mark.”

“Gold market risks suffering a setback in the event of a very hawkish ECB and high US inflation data.” 

See – NFP Preview: Forecasts from 10 major banks, many new jobs created