XAUUSD : Gold will recover after falling in price
Updated
XAU/USD is fluctuating around 2,325 USD/ounce. World gold prices moved sideways as investors waited for US inflation data, expected to be released later this week with the focus on the US core PCE index. This makes investors increase their expectations that the Fed will soon reduce interest rates in the next few months, supporting gold - a non-yielding asset.
SPDR Gold Shares fund sold a net 2.88 tons of gold on June 24, reducing its holdings to 829.05 tons.
SPDR Gold Shares fund sold a net 2.88 tons of gold on June 24, reducing its holdings to 829.05 tons.
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