Spot Gold has extended its weekly rally to $1,865.35 a troy ounce as investors continue to seek safety, while the US Dollar eases following comments
XAU/USD Current price: $1,861.93 US Federal Reserve officials cooled down speculation about a potential rate hike. The Middle East conflict fuels demand for government bond yields. XAU/USD holds above $1,860, retains its positive momentum in the near term. from different Federal Reserve officials, hinting at no more monetary tightening.
The 10-year Treasury note currently offers 4.63%, down 14 basis points , while the 2-year note yields 4.96%, down 12 bps in the day. XAU/USD short-term technical outlook XAU/USD holds on to modest intraday gains, and the daily chart shows it posted a higher high and a higher low, in line with a bullish extension. Still, the bright metal keeps developing below all its moving averages, with the 20 SMA maintaining its downward slope at around $1,881.75.
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