Gold price is replicating the recovery moves seen in Asian trading on Tuesday, as buyers jumped back early Wednesday amid a pause in the United States
Gold price finds fresh demand in Asia early Wednesday, as risk flows cap the US Dollar rebound. US bonds hold its recovery, keeping US Treasury bond yields undermined while supporting Gold price. Gold price is carving out a potential Bull Flag pattern on the daily chart. Dollar rebound across the board and sluggish US Treasury bond yields.
” Therefore, any escalation on the geopolitical front is likely to rush safety flows in the US Dollar. Gold price could also benefit in such a situation, extending its uptrend back toward $2,000. On Tuesday, the US Dollar staged a solid comeback on the back of strong US S&P Global Manufacturing and Services PMI data and solid earnings results. S&P Global said its preliminary US Composite Purchasing Managers Index tracking both the manufacturing and service sectors rose to 51.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD pulls back from five-month high, trades near $1,970Gold price halts the winning streak that began on October 17, trading lower around $1,970 per troy ounce during the Asian session on Monday. While geo
Read more »
Gold Price Forecast: XAU/USD appears a ‘buy on dips’ trade amid Middle East strifeGold price is consolidating its correction from five-month lows, keeping the red near $1,975 early Monday. Gold price fell for the first time in four
Read more »
Gold Price Forecast: XAU/USD eases amid a better mood, retains the bullish stanceSpot Gold retreated from multi-month highs on Monday but met buyers on a dip to the $1,960 price zone. XAU/USD trades around $1,977 a troy ounce in t
Read more »
Gold Price Forecast: XAU/USD rebounds near $1,980 on downbeat US DollarGold price recovers the recent losses, trading higher near $1,980 during the Asian session on Tuesday. The price of the precious metal receives upward
Read more »
Gold Price Forecast: XAU/USD attempts another run toward $2,000Gold price is seeing fresh demand early Tuesday, having held onto its tight corrective range at the start of the week on Monday. Gold price booked the
Read more »
Gold Price Forecast: XAU/USD maintains position below $2,000 ahead of US dataGold price treads waters near the $1,980 post-intraday gains during the Asian session on Tuesday. The price of the precious metal receives upward supp
Read more »