Gold price is looking to build on the previous rebound above $2,350 in Wednesday’s Asian session, as the US Dollar (USD) consolidates its recovery gains alongside the US Treasury bond yields.
Gold price extends the previous rebound early Wednesday, awaits Powell’s second testimony. The US Dollar holds recovery gains with Treasury bond yields even as Fed rate cut bets remain intact. Gold price looks north toward $2,400 amid bullish daily RSI, as $2,350 holds the fort. Gold price is looking to build on the previous rebound above $2,350 in Wednesday’s Asian session, as the US Dollar consolidates its recovery gains alongside the US Treasury bond yields.
Gold price stalled its rebound near $2,370 on Tuesday, following Fed Chair Jerome Powell’s testimony, as the US Treasury bond yields jumped and propelled US Dollar back on the bids. Market participants also took Powell’s speech as an excuse to book profits on their US Dollar shorts heading into Thursday’s critical US Consumer Price Index inflation release.
Fed Commodities XAUUSD Inflation
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD sellers eye $2,300 yet again as new week kicks inGold price is nursing losses early Monday, having witnessed a more than 1% sell-off on Friday.
Read more »
Gold Forecast: XAU/USD looks to US PMI data, with triangle breakout in playGold price is consolidating weekly gains near the highest level in nine days at $2,366, despite the US Dollar sticking to its recovery momentum alongside the US Treasury bond yields.
Read more »
Gold Forecast: XAU/USD looks north amid light trading, focus shifts to US NFPGold price is looking to extend the previous upsurge early Thursday, sitting at the highest level in over a week near $2,360.
Read more »
Gold Price Forecast: XAU/USD holds below $2,350 on stronger US PMI dataGold price (XAU/USD) edges lower to $2,320 after retreating from two-week highs around $2,368 during the early Asian session on Monday.
Read more »
Gold Price Forecast: XAU/USD could rebound if the $2,277 support holdsGold price is languishing near four-week lows of $2,286 in Asian trades on Monday, looking to attempt a tepid rebound.
Read more »
Gold Price Forecast: XAU/USD trims recent gains, holds above $2,350Gold prices were sharply lower on Monday, with XAU/USD trading in the $2,350 region after surpassing the $2,390 level on Friday.
Read more »