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The decline in the US Dollar amid the US Labor Day Holiday combined with mixed news between the US and China reinforced the XAUUSD uptrend
Friday's US data boosted Gold buyers after the metal renewed its monthly peak.
Powering the bullish trend of XAUUSD is stimulus measures from one of the world's largest Gold customers, namely China.
Despite this, the US Dollar Index (DXY) still managed to maintain its 7-week uptrend and challenge the XAUUSD bullish trend.
Friday's US data boosted Gold buyers after the metal renewed its monthly peak.
Powering the bullish trend of XAUUSD is stimulus measures from one of the world's largest Gold customers, namely China.
Despite this, the US Dollar Index (DXY) still managed to maintain its 7-week uptrend and challenge the XAUUSD bullish trend.
Note
good luck everyoneNote
According to Kitco News's latest weekly gold survey, more than two-thirds of retail investors expect this precious metal commodity to increase.Note
The fact that gold still holds the current support level in the context of the strength of the USD has returned is quite an optimistic factor.Note
According to consensus estimates, economists expect growth of 2.4%. The closely watched personal consumption expenditures (PCE) price index in the second quarter rose 2.5% from the first estimate of a 2.6% increase.
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