XAU/USD Current price: $1,965.55 US Federal Reserve officials warned speculators about betting on the end of monetary tightening. Wall Street shrugged off the negative tone of its overseas counterparts, holds on to intraday gains. XAU/USD is at risk of extending its slide, although the bearish potential remains limited. The US Dollar recovered amid a souring market mood, as Federal Reserve officials reminded speculative interest monetary tightening may not be over.
Meanwhile, US Treasury yields remain subdue, losing a few basis points after Monday’s uptick. XAU/USD short-term technical outlook From a technical perspective, the daily chart for XAU/USD suggests the metal could extend its decline, particularly if it slides below $1,953.53, the October 24 intraday low and the immediate support level. The pair bounced after briefly piercing a bullish 20 Simple Moving Average , limiting the bearish potential.
Source: Digital Coin News (digitalcoinnews.net)
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