Spot Gold trades near $2,330 a troy ounce, with XAU/USD trimming early early losses.
XAU/USD Current price: $2,329.40 United States Retail Sales missed expectations, Industrial Production resulted upbeat. US indexes maintain a positive tone after posting gains on Monday. XAU/USD approaches its comfort zone at around $2,330, with modest upward strength. The pair fell towards the $2,300 mark throughout European trading hours, turning north following the release of United States macroeconomic data. The country reported that Retail Sales rose a measly 0.1% in May, missing the 0.
Wall Street closed in the green on Monday, and US indexes maintain the positive trajectory on Tuesday, with the Dow Jones Industrial Average and the S&p 500 extending weekly gains. The Nasdaq Composite, on the contrary, is down 16 points. As a result, the US Dollar is under near-term pressure against most of its major rivals. XAU/USD short-term technical outlook From a technical point of view, XAU/USD has made no progress. It trades within familiar levels for a second consecutive week.
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