Gold price falls to $1997.60, down 0.42%, after reaching a daily high of $2006.77. Geopolitical risks, particularly the Middle East conflict, continue to drive gold prices. Analyst Jim Wyckoff remains bullish on gold, citing potential for worsening conflict and new all-time highs. 42% as market participants trimmed some of last Friday’s gains amid fears the conflict in the Middle East could spread in the region. XAU/USD is trading at $1997.60 after hitting a daily high of $2006.77.
In the meantime, the Greenback remains weak, even though US Treasury bond yields climbed, as the US Dollar Index lost 0.42% and sits at 106.13. Market participants' focus shifted to the US Federal Reserve’s monetary policy. Powell and Co. are expected to hold rates unchanged but would likely keep their options open for higher interest rates. Any dovish tilts could underpin XAU/USD prices toward higher levels.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »
S&P 500 and Gold (XAU/USD) Take Diverging Paths Ahead of a Raft of Data ReleasesSentiment has seen a slight improvement to start the week helping risk assets rise. Safe havens on the other hand are experiencing a pullback. Given the risks ahead will the moves prove sustainable?
Source: DailyFX - 🏆 305. / 63 Read more »
Gold (XAU/USD) Outlook Remains Positive, Resistance Holds First AttemptThe escalation of military action in Gaza lent gold a further bid at the end of last week, pushing the precious metal above $2,000/oz. for the first time in 5 months.
Source: DailyFX - 🏆 305. / 63 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »