Gold price (XAU/USD) attracts some buyers around $2,410, snapping the three-day losing streak during the early Asian session on Monday.
Gold price holds positive ground near $2,410 in Monday’s early Asian session. High uncertainty surrounding the US Presidential election tends to be good for gold, a safe-haven asset. The first reading of USPMI, Q2 GDP, and June PCEdata will influence the yellow metal this week. Gold price attracts some buyers around $2,410, snapping the three-day losing streak during the early Asian session on Monday.
The stronger-than-expected readings could dampen the hope for a Fed rate cut this year and cap the upside for the Gold price. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times.
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