Spot Gold is under selling pressure mid-American session, pressuring an intraday low of $2,334.34 a troy ounce.
XAU/USD Current price: $2,340.30 Fed eral Reserve officials' words cooled hopes for a September interest rate cut. Treasury yields surged to fresh one-month highs, underpinning US Dollar demand. XAU/USD gains downward traction and approaches a relevant support level at $2,325.30. The US Dollar gathered near-term strength at the beginning of the day, giving up gains during European trading hours.
98%, the highest in a month and close to the critical 5.0% threshold. Data has been scarce, with investors waiting for the US Personal Consumption Expenditures Price Index figures to be released on Friday. The Fed's favorite inflation gauge is expected to show price pressures remained above the central bank's goal in April, following an uptick in the previous three months.
Gold Recommended Fed 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 plummets amid Harmony Gold newsHarmony Gold, the largest gold mining company in SA interrupted blasting operations after a fatal accident.
Read more »
Gold Price Forecast: XAU/USD buyers take a breather but technicals stay bullishGold price is posting small losses below $2,360, pausing a three-day recovery early Wednesday.
Read more »
Gold Price Forecast: XAU/USD losing bullish momentum, still upGold kept recovering on the broad US Dollar's weakness and regardless of the market mood, with XAU/USD trading around $2,360.
Read more »
Gold Price Forecast: $2,365 appears a tough nut to crack for XAU/USD buyersGold price is consolidating its recovery mode from two-week lows, hovering near $2,350 early Tuesday, as traders look forward to the upcoming speeches from US Federal Reserve (Fed) policymakers.
Read more »
Gold Price Forecast: XAU/USD trimmed part of its latest losses, holds above $2,350Gold prices are up on Monday, with XAU/USD trading at around $2,355 after the European close.
Read more »
Gold Price Forecast: XAU/USD eyes $2,310 support, as rising wedge remains in playGold price is nursing losses while flirting with two-week lows near $2,327 in the Asian session on Friday.
Read more »