Gold Price Analysis: XAU/USD bulls move in for the kill By ross_burland Gold Commodities DollarIndex Ukraine
Markets eye the Ukraine crisis, with mixed headlines overnight.The gold price fell sharply at the start of the week while the greenback picked up the flow, eradicating the demand for the precious metal. The US dollar climbed to its highest level in more than a week, while yields on two-year Treasuries surged. At the time of writing, XAU/USD is 0.2% higher in Asia as the bulls move in and the price attempts to recover.
With that being said,the possibility of a Putin-Zelenskiy meeting is slim. The Kremlin says there has been no progress. The Russian Foreign Minister Lavrov said recently that any meeting between Putin and Zelenskiy to exchange views currently would be counter-productive. Additionally, a senior US official said Russian President Vladimir Putin did not appear ready to make compromises. Ukrainian officials are also playing down the chances of a major breakthrough at the talks.
As for data, the Dallas Federal Reserve's monthly manufacturing survey for March, a narrower advance trade gap for February and a rise in inventories. The Dallas Fed's Manufacturing Activity Index dropped to 8.7 in March from 14 in February, in contrast to other regional data that indicated expansion in the sector.
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