Gold Can Fly Confirm
Gold price (XAU/USD) enters a bullish consolidation phase during the first half of the European session and oscillates in a range above the $2,770 area, near a multi-month top touched earlier this Friday. The US Dollar (USD) attracts sellers for the second straight day and drops to over a one-month low amid a fresh leg down in the US Treasury bond yields, triggered by US President Donald Trump's comments that he could reach a trade deal with China. This, along with bets that the Federal Reserve (Fed) will cut interest rates further by the end of this year, acts as a tailwind for the non-yielding yellow metal.
Disclaimer
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.