Gold Price Forecast: XAU/USD bears in control despite optimism about United States debt ceiling extension Gold XAUUSD SEO Politics RiskAversion
ng the previous day’s fall. That said, the yellow metal bears the burden of the strong US Dollar, as well as upbeatGold price drops on firmer US Dollar, fails to cheer debt limit hopes
Gold price broke important supports and marked the biggest daily loss in nearly a fortnight as the US Dollar Index remains firmer despite the recent relief in the risk markets due to the receding fears of the United States default. The reason for the DXY run-up could be linked to the strong US data and the hawkish Federal Reserve commentary.
Recently, Reuters reported that the Democratic President Joe Biden and top congressional Republican Kevin McCarthy's US debt ceiling negotiations ended on Tuesday after less than an hour, as the looming fear of an unprecedented American debt default prompted Biden to cut short an upcoming Asia trip.
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