Gold reached fresh all-time highs on Tuesday, trading in the $2,460 price zone mid-American afternoon.
XAU/USD Current price: $2,459.10 Market participants increased bets on a Fed eral Reserve’s September rate cut. Encouraging United States macroeconomic data backed the generalized optimism. XAU/USD bullish momentum supports another leg north in the upcoming sessions. The bright metal rallied despite a firmer US Dollar, the latter benefiting from better-than-anticipated United States Retail Sales.
Nevertheless he also noted that upcoming decisions will be made meeting-by-meeting, based on evolving data and the outlook. Wall Street rallied to fresh record highs on Monday, only to surpass them in the current session. Optimism reigns among investors and the US Dollar trades oddly mixed across the FX board, partially benefiting from upbeat macroeconomic data, yet with the upside limited amid the risk-on mood.
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