Gold Price Forectast: XAU/USD rises above $4,600 on US rate cut expectations, Fed uncertainty

Gold price (XAU/USD) has risen to around $4,600 during the early Asian session, boosted by heightened expectations of US interest rate cuts following recent inflation data. Traders are increasingly betting that the Federal Reserve will lower rates, which is typically bullish for gold due to its status as a non-yielding asset. As interest rates decline, the demand for gold is expected to rise significantly. The current rise presents an upward trajectory for gold, and the $4,600 level could become a key indicator for future movements. Market participants should monitor the Fed's potential actions closely, as any confirmation of rate cuts could lead to further gains in gold prices.