Gold trades with a positive tone on Monday, now hovering around $2,345 a troy ounce, as the US Dollar eases on the back of a better market mood that also sees stock markets advancing and government bond yields retreating.
XAU/USD Current price: $2,345.71 The US Dollar is under modest selling pressure amid a better market mood. The US Fed eral Reserve and Nonfarm Payrolls figures dominate keep investors on hold. XAU/USD offers a neutral-to-bullish stance in the near term. Speculative interest, however, maintains major pairs confined to familiar levels ahead of first-tier events scheduled for this week.
The fact that figures will be out after the central bank’s announcement could be little relevant in the near term, but it will count towards speculation about what could happen in the June Fed meeting. XAU/USD short-term technical outlook XAU/USD is in the green for the third consecutive day, modestly bouncing from a Fibonacci level, the 23.6% retracement of the $1,996.06/$2,431.43 rally at $2,326.50.
XAUUSD Recommended Fed Employment
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