• Gold price rally stopped dead in $1,970s, precious metal retreats back into familiar range.
• Traders now see less chance of a Fed pivot before the end of the year, weighing on Gold.
• ING Bank expects one more rate hike then cuts before year end – higher Gold prices.

Gold price retreats back into a familiar range between $1,950-60 in the early European Session on Wednesday. Volatility has drained from markets as banking crisis fears dissipate and bets revive of a rate hike in May. Traders await the next big data release on Friday, in the form of the US Federal Reserve’s favored inflation gauge, the Personal Consumption Expenditures – Price Index (PCE).