Gold Price Analysis: XAU/USD pushes higher despite Powell hawkishness By Frank_Macro XAUUSD Gold
Spot gold has advanced on Monday despite the US dollar and yields rising in wake of hawkish Powell commentary.
Spot gold has mostly been trading on the front-foot during US trading hours, despite the latest remarks from Fed Chair, which struck market participants as far more hawkish than expected and boosted the US dollar/yields. Gold has rallied from early session sub-$1920 per troy ounce lows to current levels in the $1940 region, where it trades about 1.0% higher on the day. Last Thursday and Friday’s higher in the $1950 area are for now capping the price action.
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