Gold Price Forecast: XAU/USD retreats towards $1,900 on firmer US Dollar, mixed sentiment Gold XAUUSD RiskAppetite YieldCurve Fed
so, the precious metal reverses the mid-Asian session’s corrective bounce off the stated trend line support.
Additionally, Monday’s upbeat US data and hopes that the Federal Reserve will do anything to defend its hawkish monetary policy moves also seem to exert downside pressure on the XAU/USD price. While portraying the mood, the US 10-year Treasury yields struggle to extend a three-day uptrend near 3.54% while retreats to 102.20 at the latest. Further, the S&P 500 Futures remain mildly offered and so do stocks in the Asia-Pacific region.
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