GOLD: Price slips from bull’s radar after a three-day uptrend

Gold price (XAU/USD) pushes back the bulls at the nine-month high, after rising for the last three consecutive days, even as it seesaws around $1,930 during the early hours of Friday’s Asian session. That said, the metal’s latest pullback could be linked to the rebound in the United States Treasury bond yields and the US Dollar after the key data, including the fourth quarter (Q4) Gross Domestic Product (GDP). However, the cautious mood ahead of the Federal Reserve’s preferred inflation gauge, namely the Core Personal Consumption Expenditures - Price Index for December, seems to probe the Gold sellers of late, especially ahead of the next week’s Federal Open Market Committee (FOMC) meeting.
A slew of the United States key data was released on Thursday and allowed the market to alter its previous bias towards the Federal Reserve, which in turn triggered a corrective bounce of the US Dollar and weighed on the Gold price after three consecutive days of run-up.