Gold traded at fresh record highs early on Monday, with XAU/USD hitting $2,449.92.
XAU/USD Current price: $2,424.10 The positive momentum of stocks reflects the market’s better mood. Fed eral Reserve officials gather attention in the absence of relevant data releases. XAU/USD regains near-term upward traction after correcting from record highs. The bright metal retreated in an eventful European session, mostly due to profit-taking, as the US Dollar lacks strength of its own.
Generally speaking, financial markets seem to be in a good mood. Stocks trade with a positive tone, with global equities posting gains. United States indexes maintain the upward bias mid-American session, putting pressure on the US Dollar and helping XAU/USD stay afloat. XAU/USD short-term technical outlook The daily chart for the XAU/USD pair favors an upward extension, given that the pair trades above all its moving averages.
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