Gold Price Today: Rates soften post yesterday's strong gains
After rising over a per cent in the previous session, gold prices traded lacklustre in early trade on Wednesday (July 19) in the domestic futures market, tracking global cues.
As Reuters reported, gold prices eased on Wednesday from a 1-1/2-month high touched in the previous session, dragged by a slightly stronger dollar, even as investors bet that recent US economic readings make the case for a pause in the Federal Reserve's rate-hike stance.
Brokerage firm ICICI Direct observed that gold prices edged higher over a per cent on Tuesday to hit more than a month-high level amid a decline in US treasury yields and the dollar. The US yields dipped as retail sales grew in June at a slower-than-expected pace. The dollar index touched a 15-month low after disappointing macroeconomic data. Investors await the Federal Reserve interest rate decision next week on July 26.
XAUUSD
SELL 1986 - 1989💯💯
✅ TP1: 1980
✅ TP2: 1976
🛑 SL: 1993
As Reuters reported, gold prices eased on Wednesday from a 1-1/2-month high touched in the previous session, dragged by a slightly stronger dollar, even as investors bet that recent US economic readings make the case for a pause in the Federal Reserve's rate-hike stance.
Brokerage firm ICICI Direct observed that gold prices edged higher over a per cent on Tuesday to hit more than a month-high level amid a decline in US treasury yields and the dollar. The US yields dipped as retail sales grew in June at a slower-than-expected pace. The dollar index touched a 15-month low after disappointing macroeconomic data. Investors await the Federal Reserve interest rate decision next week on July 26.
XAUUSD
SELL 1986 - 1989💯💯 ✅ TP1: 1980
✅ TP2: 1976
🛑 SL: 1993
