Gold price (XAU/USD) seesaws within a $15 trading range after refreshing the 13-month high with the $2,049 mark. Even so, the yellow metal remains well set for a four-day uptrend, as well as bracing for the second consecutive weekly high, amid broad-based US Dollar weakness. That said, the greenback bears the burden of the easing hawkish Fed bets, backed by softer inflation numbers. Also weighing on the US Dollar could be the looming threat to its reserve currency status.

Apart from the US Dollar Index (DXY) fall to a fresh one-year low, hopes of faster growth in Asia, one of the major Gold consumers, as well as fears of recession depicted by downbeat yields, also propel the XAU/USD prices.

Moving on, US Retail Sales for March, the Michigan Consumer Sentiment Index (CSI) for April and the University of Michigan’s (UoM) 5-year Consumer Inflation Expectations will be important to watch for clear directions for the Gold traders.

Considering the aforementioned catalysts, the Gold bulls are likely to keep the reins unless the scheduled data provide a major positive surprise. Even if the mentioned statistics rally, a light calendar in the next week, except for the Purchasing Managers Indexes (PMIs), may restrict the corrective pullback in the Gold Price.

Also read: Gold Price Forecast: XAU/USD eyes a pullback before resuming journey toward $2,075