Financial markets remain volatile on Thursday as economic headlines flood news feeds.
XAU/USD Current price: $2,444.19 Concerns about the United States' economic health spurred risk aversion. Wall Street plummeted following a poor US ISM Manufacturing PMI. XAU/USD retains gains near fresh two-week highs, aims to extend advance. Meanwhile, risk-aversion dominates trading boards mid-American afternoon, helping XAU/USD retain most of its intraday gains. Asian shares suffered amid plummeting Japanese equities, with the Nikkei losing 2.
8 anticipated by market players. The data spurred concerns over the state of the American economy and sent stocks nose-diving. The US Dollar surged across the FX board, while XAU/USD entered a near-term consolidative phase amid prevalent demand for safety. XAU/USD short-term technical outlook The daily chart for the XAU/USD pair shows it remains comfortable above the 23.6% Fibonacci retracement of the June/July rally at $2,438,75, the immediate support level. The pair met buyers around the 61.
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