XAU awaits Fed interest rate meeting
Gold fell sharply from $2,159 to $2,146 as the USD was supported by rising US government bond yields before turning up and ending the day around $2,160 as the USD leveled off. Precious metals cannot break out as economic data is still good and the Fed interest rate outlook is still "hawkish".
There will be no important economic data from the US today and tomorrow until Thursday when the Fed's interest rate meeting begins. Currently, gold is trading around $2,160.
There will be no important economic data from the US today and tomorrow until Thursday when the Fed's interest rate meeting begins. Currently, gold is trading around $2,160.
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TP 2156
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