Spot Gold is under strong selling pressure on Tuesday, breaking through the $2,300 mark in the American session.
XAU/USD Current price: $2,295.35 Consumer Confidence in the US fell for a third consecutive month in April. Market players fear the Fed eral Reserve will maintain a hawkish stance. XAU/USD is technically bearish and could extend its slide towards $2,260.30. XAU/USD eased throughout the day, accelerating its slump mid-European session amid a souring market mood. The slide accelerated after the release of the United States t Q1 Employment Cost Index, which rose to 1.2% from the previous 0.
Wall Street is closing April with sharp losses amid concerns about local growth and despite generally upbeat earnings reports in the current seasion. XAU/USD short-term technical outlook XAU/USD is technically bearish and seems poised to extend its slump after breaking below $2,326.50, a critical Fibonacci level, the 23.6% retracement of the $1,996.06/$2,431.43 rally.
XAUUSD Recommended Fed Consumerconfidence
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