XAU waits for news from the US Federal Reserve (Fed)Previously, gold had a strong sell-off after current US President Joe Biden announced his withdrawal from the race for the White House. The pressure to sell gold increased after this commodity increased previously and investors took advantage of taking profits in the context that they wanted to listen to more impact assessments of the rapid changes in world politics.
The decline of many stock markets also caused gold to be sold to compensate for stock purchase contracts. However, bottom-fishing demand quickly increased again for gold. Demand increases quite strongly every time gold reaches the psychological support level of 2,400 USD or 2,395 USD/ounce.
