XAU/USD accelerated north on Thursday, trading above the $2,350 mark and at its highest in two weeks.
XAU/USD Current price: $2,354.46 Tepid United States data put modest pressure on the USD ahead of the American opening. Russian President Putin spurred risk aversion by speaking about the nuclear doctrine. XAU/USD is firmly bullish in the near term, could extend advance towards $2,400. The US Dollar lost steam following the release of United States tepid data, as the country reported that Initial Jobless Claims for the week ended June 14 were up by 238K, worse than the 235K expected.
Additionally, Putin said that Russia could provide other countries with its weapons as the West does to Ukraine. On Friday, S&P Global will release the preliminary estimates of the US June PMIs, which are expected to indicate a slight contraction in business growth. The economy, however, is expected to remain in expansion territory. XAU/USD short-term technical outlook Technical readings in the daily chart show that XAU/USD positive momentum is building up.
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