XAU/USD Current price: $2,313.24 Substantial gains among European indexes weigh on safe-haven demand. Treasury yields retreated further from recent multi-month highs, weighing on the USD. XAU/USD trades with a softer tone, but absent USD demand limits the downside. The slide can be attributed to a better market mood, as European indexes closed with substantial gains.
43%, down 5 basis points on the day, while the 2-year note yields 4.80%, down 1 bps and further away from its recent peak above 5%. XAU/USD short-term technical outlook Technically, the daily chart for XAU/USD shows it keeps meeting sellers around a Fibonacci level, the 23.6% retracement of the April/May rally at $2,326.50. The next Fibonacci level and critical support comes at $2,260.80, a potential bearish target should Gold finally lose the $2,300 mark.
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD rebounds on market caution, aims to reach $2,400Gold price recovers its recent losses, trading around $2,370 per troy ounce during the Asian session on Thursday.
Read more »
Gold Price Forecast: XAU/USD remains steady above $2,350 amid market cautionGold price holds ground near $2,380 per troy ounce on Wednesday, hovering close to record highs as traders exercise caution ahead of Israel's response to Iran's air strike on Saturday.
Read more »