"Gold Price Outlook: Traders Await PBoC Rate Decision and US Economic Data"

Gold price drifts lower to $2,027 as robust US economic data raise expectations of delayed interest rate cuts by the Federal Reserve, boosting the US Dollar. US consumer sentiment improved in January, hitting the highest level since July 2021, while investors await the People’s Bank of China interest rate decision. Weaker US data may lead the Fed to lean toward a dovish policy, potentially capping the downside of the gold price, while any negative developments in the Chinese economy could drag the gold price lower.