XAU increased due to improving market sentiment
Updated
World gold prices increased slightly, currently trading around 2,370 USD at the time of writing. Yesterday, gold turned down after approaching its highest level of the week in the European session, reaching about 2,395 USD, almost reaching the 2,400 USD mark. The main reason for this decline comes from improved market sentiment, reflected in investors' preference for riskier assets.
However, falling US government bond yields also contributed to weakening the USD, making it difficult for gold to fall sharply immediately. However, gold's decline may be limited by rising geopolitical tensions in the Middle East, especially after the US announcement of imposing new sanctions on Iran.
The short-term outlook for gold prices remains uncertain. Middle East tensions and Fed monetary policies will be key factors to watch. If Middle East tensions escalate or the Fed becomes more hawkish, gold could rise. However, if market sentiment continues to improve and US government bond yields increase, gold may fall further.
However, falling US government bond yields also contributed to weakening the USD, making it difficult for gold to fall sharply immediately. However, gold's decline may be limited by rising geopolitical tensions in the Middle East, especially after the US announcement of imposing new sanctions on Iran.
The short-term outlook for gold prices remains uncertain. Middle East tensions and Fed monetary policies will be key factors to watch. If Middle East tensions escalate or the Fed becomes more hawkish, gold could rise. However, if market sentiment continues to improve and US government bond yields increase, gold may fall further.
Note
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TP2: 2393
SL: 2366
Note
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