Gold price extends the range-bound trading on Tuesday amid doubts over the Fed's rate-cut path. Signs of easing inflation keep a September rate cut on the table and lend some support. A modest USD strength might cap the upside for the XAU/USD ahead of US Retail Sales. Gold price struggles to gain any meaningful traction on Tuesday and oscillates in a narrow trading band, around the $2,320 region during the Asian session.
This is followed by the $2,360-2,362 supply zone, which, if cleared decisively, might prompt some short-covering rally and lift the Gold price to the $2,387-2,388 intermediate hurdle en route to the $2,400 mark. A sustained strength beyond the latter will suggest that the recent corrective slide from the all-time top set in May has run its course and should allow the XAU/USD to retest the $2,450 region.