DNA_BrianTrading

DNA_BrianTrading Updated 

XAU/USD is in retreat mode after peaking at $1,970.15 a troy ounce, now approaching the $1,940 mark. The US Dollar started the day on the back foot as the market mood stabilized, allowing rival assets to appreciate. However, the American currency made a comeback early in the US session, helped by rising US government bond yields.

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The price of gold is still receiving support from the current world geopolitical tensions. The increasing tensions between Russia and Ukraine have caused a rise in demand for safe-haven assets, including gold. The recent news of a major dam and power plant blowing up in Ukraine, leading to flooding and fears of crop damage, has further fueled this demand. All...

DNA_BrianTrading

Gold prices have bounced back due to a larger-than-anticipated drop in the US services sector during May. Some experts suggest that the precious metal is gaining momentum as the economy remains bleak, and economic data continues to disappoint. This trend of recession may force the US Federal Reserve to put a halt on raising interest rates. There is a high...