Fed Minutes in mind
Gold Price (XAU/USD) remains on the back foot around $1,910 as the trading week begins with no major surprises and a lighter macro line during the weekend. That said, the XAU/USD dropped for three consecutive weeks in the last, failing the most since mid-June at the latest, amid firmer US Treasury bond yields and the US Dollar. Also weighing on the Gold Price could be the fears emanating from China. It should be noted that a slew of data from the XAU/USD moves this week.
Gold Price dropped in the last three consective weeks as the US Treasury bond yields and China concerns underpinned the US Dollar's haven demand, especislly amid the board ecnomic uncertianly.
The unimpressive US inflation data allowed the Fed policymakers to cheer the victory over price pressure but the trades sought more details to weelcome the policy pivot concerns. The same joined the fears about China, the world's biggest Gold customer, to weigh on the XAU/USD price.
Gold Price (XAU/USD) remains on the back foot around $1,910 as the trading week begins with no major surprises and a lighter macro line during the weekend. That said, the XAU/USD dropped for three consecutive weeks in the last, failing the most since mid-June at the latest, amid firmer US Treasury bond yields and the US Dollar. Also weighing on the Gold Price could be the fears emanating from China. It should be noted that a slew of data from the XAU/USD moves this week.
Gold Price dropped in the last three consective weeks as the US Treasury bond yields and China concerns underpinned the US Dollar's haven demand, especislly amid the board ecnomic uncertianly.
The unimpressive US inflation data allowed the Fed policymakers to cheer the victory over price pressure but the trades sought more details to weelcome the policy pivot concerns. The same joined the fears about China, the world's biggest Gold customer, to weigh on the XAU/USD price.
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.
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.