GOLD PRICE FORECAST: XAU/USD BULLS MOVE IN AT KEY H4 SUPPORT

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Gold price finished the day on Tuesday tailing off from the New York session highs that were put in on a soft US Dollar ahead of Wednesday's US inflation report. Holiday markets made for a mixed day as traders wait in anticipation of the main event for the week making for uneven price action across the asset classes. 


The Greenback gave back the bulk of Easter Monday's gains after the robust Nonfacr Payrolls report released on the Good Friday holiday cemented the notion that the Federal Reserve has one more rate hike left in its toolbox. The job numbers showed that employers added 236,000 jobs while the unemployment rate fell to 3.5%. This has led the market to believe that the Federal Reserve will hike rates by an additional 25 basis points at its May 2-3 meeting, before pausing in June. Markets are also pricing for the Fed pivot where a rate cut by year-end could be on the cards to combat the risks of a recession.

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