XAU falls as tensions in the middle east subside
Updated
World gold prices continue to decline as concerns about escalating tensions in the Middle East ease, while investors are still waiting for important US data to get new clues about the Fed's interest rate trajectory. US Federal Reserve (FED).
Previously, at the beginning of the week, gold fell more than 2%, marking the largest intraday decline in more than a year, after Iran said it had no plans to retaliate following the Israeli attack, causing shelter demand. safety on precious metals decline.
Some analysts predict that gold prices will continue to decline as the market turns its attention back to US monetary policy and expects the FED to maintain positive monetary policy longer than expected.
Although gold is likely to fall deeper, analysts say that the factors that fueled the breakthrough increase in March remain the same. Central banks continue to buy gold as a safe haven asset to hedge against rising debt levels. At the same time, Asian investors still dominate the market as they continue to diversify their portfolios.
Previously, at the beginning of the week, gold fell more than 2%, marking the largest intraday decline in more than a year, after Iran said it had no plans to retaliate following the Israeli attack, causing shelter demand. safety on precious metals decline.
Some analysts predict that gold prices will continue to decline as the market turns its attention back to US monetary policy and expects the FED to maintain positive monetary policy longer than expected.
Although gold is likely to fall deeper, analysts say that the factors that fueled the breakthrough increase in March remain the same. Central banks continue to buy gold as a safe haven asset to hedge against rising debt levels. At the same time, Asian investors still dominate the market as they continue to diversify their portfolios.
Note
BUY XAU 2327 - 2325TP1: 2337
TP2: 2347
SL: 2317
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