Spot Gold fell to $2,493.46 on Wednesday, retaining the negative tone in the American session but still trading in the red on a daily basis.
XAU/USD Current price: $2,502.60 Wall Street turned red as investors await NVIDIA´s earnings report. Market participants keep waiting for a United States inflation update. XAU/USD battles to retain the $2,500 level ahead of critical market announcements. The US Dollar gained some footing after reaching oversold conditions against most major rivals. The US Dollar Index fell to a fresh YTD low of 100.52, meeting buyers near the critical threshold.
Other than that, Wall Street trades in the red, unable to follow the lead of its overseas counterparts, while government bond yields remain stable near their August lows. At the time being, the 10-year Treasury note offers 3.83%. XAU/USD short-term technical outlook From a technical point of view, the XAU/USD pair seems poised to extend its slide. The bright metal ended a three-day winning streak, retaining modest weekly gains.
Gold Recommended Inflation Sentiment
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