Gold price (XAU/USD) extends last week's pullback from the $2,065 area, or a one-month peak and drifts lower through the first half of the European session on Monday. The downfall drags the precious metal to a one-week low, around the $2,022-2,021 area in the last hour and is sponsored by expectations that the Federal Reserve (Fed) will keep rates higher for longer, bolstered by Friday's upbeat US NFP report.
The outlook, meanwhile, remains supportive of a further rise in the US Treasury bond yields, which assists the US Dollar (USD) to stand tall near its highest level since December 11 and contributes to driving flows away from the non-yielding Gold price. Meanwhile, persistent geopolitical risk stemming from conflicts in the Middle East and China''s economic woes fail to lend any support to the safe-haven XAU/USD.
Xauusd buy now 2021
CONFRIM Target 2041
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The outlook, meanwhile, remains supportive of a further rise in the US Treasury bond yields, which assists the US Dollar (USD) to stand tall near its highest level since December 11 and contributes to driving flows away from the non-yielding Gold price. Meanwhile, persistent geopolitical risk stemming from conflicts in the Middle East and China''s economic woes fail to lend any support to the safe-haven XAU/USD.
Xauusd buy now 2021
CONFRIM Target 2041
Guy's follow this analysis
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.