Gold price (XAU/USD) clings to gains around $1,970 on Wednesday, prompted by a decline in long-term US bond yields. The precious metal managed to reco
Gold price holds onto recovery propelled by a fall in long-term US Treasury yields. The US Dollar strengthened after S&P Global PMIssignaled an uptick in US business activity. Investors await the Q3 GDP and the Fed’s preferred inflation gauge, which could influence the Fed’s November policy decision. ver swiftly as the near-term trend remains firmer amid the Israel-Palestine conflict. The risks of widening tensions in the region persist as the Israeli troops are preparing to enter Gaza.
9 and the prior release of 50.1. S&P Global reported that strong demand conditions drove the expansion amid a renewed increase in new orders. The agency also reported that market sentiment has improved in part due to hopes of interest rates having peaked. The US Dollar, tracked by the US Dollar index, recovered sharply from 105.40 as the US economy appears to be performing better while the European economy reported a downtick in business activity due to higher borrowing costs.
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