Gold traded lifeless throughout the first half of Tuesday, confined to a tight range just below the $2,330 mark, further sliding after Wall Street’s opening.
XAU/USD Current price: $2,319.23 Mixed comments from Fed eral Reserve officials and Canadian inflation dented the market mood. Consumer Sentiment in the US contracted by less than anticipated in June. XAU/USD under pressure, bears aiming to pressure the $2,300 threshold. US indexes trade mixed, with the Dow Jones Industrial Average heading south but the S&P500 and the Nasdaq Composite posting gains.
Finally, she added that the labor market remains tight and only saw modest progress on inflation this year. Also, Governor Lisa Cook noted that the central bank is on track for a rate cut if the economy’s performance meets her expectations, but she was unable to anticipate when. Cook was far more optimistic than Bowman about future rate cuts, limiting US Dollar strength mid-US afternoon.
XAUUSD Recommended Fed Inflation
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