XAU decreased slightly waiting for credit from the Fed
Updated
Investors are waiting for the US Federal Reserve's (Fed) policy meeting and US non-farm payroll data to be released this week for more clues about the Fed's policy direction.
Gold prices recorded a slight decline after recent losses as traders continued to price in higher longer-term US interest rates ahead of the US Federal Reserve (FED) meeting over the weekend .
Most investors are still betting on the first rate cut in September, but there is now only one 25 basis point cut for the entire year.
Rising interest rates reduce the appeal of non-yielding gold. For the week, bullion is poised to fall 2%, the first decline in 6 weeks.
Gold prices recorded a slight decline after recent losses as traders continued to price in higher longer-term US interest rates ahead of the US Federal Reserve (FED) meeting over the weekend .
Most investors are still betting on the first rate cut in September, but there is now only one 25 basis point cut for the entire year.
Rising interest rates reduce the appeal of non-yielding gold. For the week, bullion is poised to fall 2%, the first decline in 6 weeks.
Note
BUY XAU 2321 2319TP1: 2331
TP2: 2341
SL: 2311
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