Gold prices posted solid gains on Monday as the US Dollar weakened during the North American session despite positive news regarding US-China trade talks. A retracement of US Treasury bond yields underpins the golden metal, which trades at $3,329 a troy ounce at the time of writing.
An improvement in risk appetite was not an excuse for Bullion buyers to extend the XAU/USD uptrend despite the reduced demand for safe haven assets. A Wall Street Journal article mentioned that US President Donald Trump granted some flexibility on export controls to US Treasury Secretary Scott Bessent as talks between the US and China got underway on Monday.
Easing tensions between Washington and Beijing could undermine the appeal of Gold. However, if US Treasury bond yields continue to drop, this would put a lid on Bullion's fall.
The US Dollar Index (DXY), which tracks the US Dollar's performance against a basket of six currencies, falls by 0.25% to 98.95, making the US Dollar-denominated asset more expensive for foreign buyers.
Geopolitical tensions remain high as Russia claimed control of territory in Ukraine's east-central region. An escalation of the conflict could push Gold prices higher, clearing the path to test $3,350 in the short term.
Ahead this week, traders are eyeing the release of the latest US Consumer Price Index (CPI) report, followed by the Producer Price Index (PPI), jobs data, and the University of Michigan (UoM) Consumer Sentiment survey.
Source: Fxstreet
Gold is trading in a narrow range on Monday, as economic data, easing trade tensions, and the fragility of the US Dollar continue to influence price action. At the time of writing, Gold is trading ne...
Gold prices held steady on Monday (July 28), with gains capped by improved risk sentiment following the trade deal between the United States and the European Union, while investors awaited the US Fede...
Gold prices gained in choppy trading on Monday, as a weaker dollar helped to offset pressure from improved risk appetite after United States and European Union announced a trade framework agreement. ...
Gold steadied after the US and European Union announced they had reached a tariff agreement, staving off some concerns about a potentially painful trade war between the economies. Bullion traded near...
Gold prices weakened on Friday, weighed down by a stronger U.S. dollar and signs of progress in U.S.-EU trade negotiations, which have dampened demand for safe-haven assets. Spot gold fell 0.9% to $3...
The U.S. central bank, to President Donald Trump's chagrin, will likely leave interest rates unchanged at a policy meeting this week, but that's not to say there won't be a vigorous debate, with one if not two Federal Reserve governors possibly...
The US Dollar (USD) starts the week on a firmer note, extending its modest recovery since Thursday, as easing global trade tensions lift investor sentiment. Interestingly, the Greenback, which typically underperforms in a risk-on environment, is...
Gold is trading in a narrow range on Monday, as economic data, easing trade tensions, and the fragility of the US Dollar continue to influence price action. At the time of writing, Gold is trading near $3,310 per ounce, down from earlier highs...
The S&P 500 rose 0.4% on Friday (July 25), notching its fifth consecutive record close—its longest streak in more than a year—while the Nasdaq...
European governments and companies reacted with a mix of relief and concern on Monday (July 28th) to the framework trade agreement reached with US...
The United States and European Union have reached a landmark trade agreement that includes a 15% tariff on EU goods entering the U.S., President...
Major bourses in Europe were higher on Monday, with the STOXX 50 adding 1.3% and the STOXX 600 gaining 1%, after the US and European Union reached a...