Quiet trading extends on Tuesday, with Gold changing hands at around $2,510 a troy ounce.
XAU/USD Current price: $2,513.31 Market players keep waiting for inflation updates and potential effects on central banks’ decisions. US CB Consumer Confidence improved by more than anticipated in August. XAU/USD is neutral-to-bullish in the near term, bulls taking their chances of dips. The bright metal is confined to a tight intraday range as expectations mount for the upcoming United States inflation figures to be out on Friday.
The Conference Board's Consumer Confidence Index rose to 103.3 in August, while the July figure was upwardly revised to 101.9 from 100.3. Furthermore, the Expectations sub-index improved to 82.5, while the July reading was revised to 81.1, marking the second consecutive month of the Index above 80. A reading below the latter usually signals a recession ahead. XAU/USD short-term technical outlook From a technical point of view, the risk for XAU/USD remains scheduled to the upside.
Gold Recommended Fed Inflation
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