A sharp US Dollar decline pushed XAU/USD above the $2,360 mark for the first time in over two weeks.
XAU/USD Current price: $2,359.66 A batch of United States tepid data boosted the mood and put the US Dollar under selling pressure. Wall Street recovered itspoise despite softer-than-expected US employment and growth figures. XAU/USD turned bullish in the near term and may run past the June high at $2,368.59. A rough of tepid United States data pushed the US Dollar down, although the major catalyst was the ISM Services PMI, which unexpectedly dropped to 48.8 in June after posting 53.
Wall Street also gained impetus as a result of the better market mood. Only the Dow Jones Industrial Average trades in the red, down 0.12%. The S&P500 and the Nasdaq Composite, however, trade in the green, while government bond yields are down, further weighing on the Greenback.
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