TODAY XAUUSD UPDATE: Gold Price Forecast: XAU/USD rises to more than one-week high amid heavy USD selling.

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TODAY XAUUSD UPDATE

TODAY XAUUSD UPDATE

TODAY XAUUSD UPDTE: Gold Price Forecast: XAU/USD rises to more than one-week high amid heavy USD

  • Gold gains strong positive traction on Friday amid aggressive USD long-unwinding trade.
  • Aggressive Fed rate hike bets, elevated US bond yields should help limit the USD losses.
  • The risk-on impulse could further contribute to capping the safe-haven precious metal.

TODAY XAUUSD UPDATE :Gold attracts fresh buying on the last day of the week and climbs to a nearly two-week high during the early part of the European session. The XAU/USD is currently placed just below the $1,730 level and is looking to build on its recent bounce from the lowest level since July 21 touched last week.

TODAY XAUUSD UPDATE:The US dollar comes under heavy selling pressure on Friday and retreats further from a two-decade high, which turns out to be a key factor boosting demand for the dollar-denominated commodity. The steep USD downfall to a fresh monthly low could be solely attributed to some long-unwinding and is more likely to remain limited amid hawkish Fed expectations.Confuse Which Broker is best ? , Here you can find the best regulated broker

 

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