XAU/USD bearish momentum accelerated on Wednesday, and the bright metal trades at around $2,300.00 a troy ounce mid-American afternoon, with the US Dollar firmer against all major rivals.
XAU/USD Current price: $2,301.49 Firmer US Treasury yields provide an additional impulse to the US Dollar. Stock markets remain in the red, reflecting the dismal market mood. XAU/USD maintains the downward route and challenges the $2,300 threshold. As reflected by stock markets, a poor market mood remains behind the Greenback’s broad strength. European indexes closed in the red, while Wall Street is also in a bearish route.
The country will release more interesting macroeconomic figures on Thursday, as the calendar includes May Durable Goods Orders, the final estimate of Q1 Gross Domestic Product , weekly unemployment figures and the May Goods Trade Balance. XAU/USD short-term technical outlook XAU/USD slid for a second consecutive day, reaching an intraday low of $2,293.54 during US trading hours. From a technical point of view, the risk of a bearish extension has increased.
XAUUSD Recommended Fed Yieldcurve
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