US passed bills to avert a government shutdown, securing funding until November 17.Gold price extends its losing streak that began on September 25, trading lower around $1,840 per troy ounce during the Asian session on Monday.
The prices of precious metals face challenges, primarily due to the upbeat US Dollar after the moderate economic data released on Friday. US Michigan Consumer Sentiment Index improved to 68.1 from the previous figure of 67.7, which was expected to remain unchanged.- Price Index for August rose 3.9% as estimated, eased from the previous reading of 4.3%. Core PCE showed a soft reading of 0.1% against the market consensus to be consistent at the 0.2% prior.
The Gold traders will likely watch the upcoming US ISM Manufacturing PMI for September ahead of the Fed’s Chair Jerome Powell's speech on Monday.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.