Gold Price News and Forecast: XAU/USD prices have ticked up in recent trade into the $1840s
|Gold Price Analysis: XAU/USD eyes test of $1850 following firmer than expected US inflation
Spot gold (XAU/USD) prices have been on the front foot in recent trade, with a boost coming at 13:30GMT in the form of slightly softer than expected US Consumer Price Inflation numbers. Gold popped above the $1840 level and Wednesday Asia session highs at $1842, but has so far failed to break above $1850. As things stand, the precious metal trades with gains of close to $8 or 0.5% on the day.
How will gold perform this winter?
Some of you may have seen snow this year already, but the astronomical winter is still ahead of us. Unfortunately, it could be a really dark winter. Instead of joyful snowball battles and making snowmen, we will have to contend with the coronavirus. The vaccines will definitely help (the first doses of Pfizer's vaccine were administered this week), but their widespread distribution will begin only next year. So, we still have to deal with the pandemic taking its toll here and now – as the chart below shows, the number of daily COVID-19 cases is still above 200,000 in the U.S.
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