Fundamental Overview
The price of gold, measured in XAU/USD, is currently under pressure and has been on a downward trend for the past three days. Despite this, gold is still considered a safe-haven investment and buyers are expecting weekly gains. The recent recovery of the US dollar, driven by positive inflation signals from the US economic calendar, has been ignored by XAU/USD. This is due to concerns about the US debt ceiling expiration in June, as policymakers have yet to agree on measures to address the issue. On the other hand, the strong performance of technology companies in the stock market is contributing to the firmer gold price.
The price of gold, measured in XAU/USD, is currently under pressure and has been on a downward trend for the past three days. Despite this, gold is still considered a safe-haven investment and buyers are expecting weekly gains. The recent recovery of the US dollar, driven by positive inflation signals from the US economic calendar, has been ignored by XAU/USD. This is due to concerns about the US debt ceiling expiration in June, as policymakers have yet to agree on measures to address the issue. On the other hand, the strong performance of technology companies in the stock market is contributing to the firmer gold price.
