• Gold price is anticipating a range expansion amid a further decline in the US Dollar Index.
• Mixed responses from Fed policymakers have kept investors on their toes.
• Gold price is auctioning in a Symmetrical Triangle chart pattern, which indicates a decline in volatility.

Gold price (XAU/USD) is demonstrating signs of volatility contraction below $1,930.00 in the European session. The precious metal is looking to deliver gains as the US Dollar Index (DXY) has come under pressure due to the risk-appetite theme.

S&P500 futures have posted decent gains in London as investors are shrugging-off uncertainty associated with the upcoming quarterly result season. The USD Index has refreshed its day’s low at 102.49 amid positive market sentiment. Meanwhile, upbeat US Yields have been restricting the upside in the Gold price. The 10-year US Treasury yields have jumped to near 3.74%.

Mixed responses from Federal Reserve (Fed) policymakers have kept investors on their toes. Atlanta Fed Bank President Raphael Bostic favored the continuation of a steady policy as further restrictions could damage the strength of the economy. On the contrary, San Francisco Fed Bank President Mary Daly suggested that two more rate hikes this year are a “very reasonable” projection, supporting similar commentary from Fed chair Jerome Powell.

 For further actions, the United States Durable Goods Orders data will be in focus. As per the consensus, the economic data is seen contracting by 1.0% vs. an expansion of 1.1%. Durable Goods Orders excluding defense are seen as stagnant against a contraction of 0.7%