XAUUSD gains traction above 2876
James, hello everyone.
Last week, we saw a significant drop in gold prices. At one point, the price of gold fell to a low of $2,876. Currently, the price of gold is trading around $2,898, stable for the week.
It is clear that the price of gold is starting a new week on a positive note, supported by the continued weakness of the US dollar (USD) and US Treasury yields.
Regarding the volatility of gold this week, the price of gold has also increased sharply due to tensions surrounding the upcoming tariff war between the United States and the European Union (EU). "The European Commission will consider strict import restrictions on some foods produced according to different standards to protect its farmers, reflecting the reciprocal trade policy of US President Donald Trump," the Financial Times (FT) reported on Sunday.
Additionally, it should be noted that gold prices could be volatile in the coming day as a US national holiday is likely to add to the action. Speeches by Fed officials Christopher Waller, Patrick Harker and Michelle Bowman will be closely scrutinized ahead of the Fed Minutes on Wednesday.
Last week, we saw a significant drop in gold prices. At one point, the price of gold fell to a low of $2,876. Currently, the price of gold is trading around $2,898, stable for the week.
It is clear that the price of gold is starting a new week on a positive note, supported by the continued weakness of the US dollar (USD) and US Treasury yields.
Regarding the volatility of gold this week, the price of gold has also increased sharply due to tensions surrounding the upcoming tariff war between the United States and the European Union (EU). "The European Commission will consider strict import restrictions on some foods produced according to different standards to protect its farmers, reflecting the reciprocal trade policy of US President Donald Trump," the Financial Times (FT) reported on Sunday.
Additionally, it should be noted that gold prices could be volatile in the coming day as a US national holiday is likely to add to the action. Speeches by Fed officials Christopher Waller, Patrick Harker and Michelle Bowman will be closely scrutinized ahead of the Fed Minutes on Wednesday.
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✅You can get 5 - 7 gold signals - Forex every day
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✅Completely free.
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t.me/+cwKKHoaeEAc5NWY1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.