Gold Price Forecast: XAU/USD eases from five-month peak, retreats to sub-$1,800 levels

• Gold price corrects from a five-month high amid modest intraday US Dollar recovery move.

• Rebounding US Treasury bond yields revives the USD demand and weighs on the XAU/USD.

• Bets for less aggressive rate hikes by Federal Reserve should help limit losses for Gold price.

Gold price struggles to capitalize on the intraday positive move and retreats from the $1,810 area, or a five-month peak touched earlier this Monday. The XAU/USD slips below the $1,800 mark during the first half of the European session and is now flirting with a technically significant 200-day Simple Moving Average (SMA).