XAU price decreased slightly in this morning's trading session
Updated
The US Federal Reserve (FED) cuts interest rates and unrest increases in the Middle East
Reports also suggest that ceasefire negotiations between Israel and Hamas have not made much progress.
Gold remains below record highs hit in April, when the threat of a potential war between Iran and Israel increased safe-haven demand. But the yellow metal then dropped sharply because tensions between the two sides had not yet become a full-blown conflict.
Focus on cutting interest rates, waiting for more FED speakers. The dollar steadied after last week's decline, limiting any major gains in gold as the market waits for more interest rate signals from the Fed.
Reports also suggest that ceasefire negotiations between Israel and Hamas have not made much progress.
Gold remains below record highs hit in April, when the threat of a potential war between Iran and Israel increased safe-haven demand. But the yellow metal then dropped sharply because tensions between the two sides had not yet become a full-blown conflict.
Focus on cutting interest rates, waiting for more FED speakers. The dollar steadied after last week's decline, limiting any major gains in gold as the market waits for more interest rate signals from the Fed.
Note
SELL XAU 2320 - 2324TP1: 2315
TP2: 2310
SL: 2330
Note
Runing + 70 pips
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