Gold prices gained some positive traction during the Asian session on Tuesday and now, appear to have broken a four-day bearish streak to the lowest in more than a week touched the previous day. XAU/USD is currently trading around $1,960, up 0.25% on the day, as traders are eagerly anticipating the central bank's key event this week.
Comment
Risks Thinking Watching, worsening relations between the United States and China - the world's two largest economies - and geopolitical risks have clouded the recent optimism in markets. Worries about recession Deeper global economic concerns flared up again on Monday following the disappointing July release of the Purchasing Managers' Index (PMI). The survey showed a broad-based decline in business activity in the manufacturing and services sectors in the Euro Area, the United Kingdom (UK) and the United States (US). Coming to me, this is considered a key factor supporting the safe-haven Gold Price.
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