Spot Gold trades with modest gains in the American afternoon, having experienced some early volatility.
XAU/USD Current price: $2,457.30 Financial markets welcomed US data pushing away recession-related fears. Stock markets are rallying with optimism, with US indexes challenging fresh weekly highs. XAU/USD holds within familiar levels, buyers still take their chances on dips. XAU/USD fell to $2,432.04 ahead of Wall Street’s opening as a batch of United States data pushed speculative interest away from the safe-haven metal.
8% in July while Industrial Production in the same month was down 0.6%, both worse than expected and below June figures. XAU/USD short-term technical outlook The daily chart for the XAU/USD pair shows it remains within familiar levels, and while trading in the green, it posted a lower high and a lower low, usually seen as a bearish sign. Technical indicators have turned marginally lower but remain within positive levels, limiting the odds of a steeper decline.
XAUUSD Recommended Fed Recession
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