XAU/USD crosses immediate hurdle
Gold Price (XAU/USD) renews intraday high as it keeps Friday’s run-up, despite a sluggish week-start. In doing so, the Gold Price benefits from the broad US Dollar weakness, mainly due to the softer US inflation expectations and mixed China data. However, the hawkish Fed talks and the US-China tension prod the XAU/USD bulls amid a cautious mood ahead of Wednesday’s US inflation numbers.
Additionally challenging the Gold buyers are the doubts about the latest US Treasury bond yields. It’s worth noting that the market’s fears of recession push traders toward traditional havens like bonds, Gold and the Yen. However, the same catalysts also allow the US Dollar to cheer the sour sentiment, which it has failed to off late. As a result, the market’s mixed concerns keep the Gold buyers hopeful but the upside room appears limited.
XAUUSD BUY 1920 - 1922 💯💯
✅ TP1: 1926
✅ TP2: 1930
✅ TP3: 1920
🛑 SL: 1916
Additionally challenging the Gold buyers are the doubts about the latest US Treasury bond yields. It’s worth noting that the market’s fears of recession push traders toward traditional havens like bonds, Gold and the Yen. However, the same catalysts also allow the US Dollar to cheer the sour sentiment, which it has failed to off late. As a result, the market’s mixed concerns keep the Gold buyers hopeful but the upside room appears limited.
XAUUSD BUY 1920 - 1922 💯💯 ✅ TP1: 1926
✅ TP2: 1930
✅ TP3: 1920
🛑 SL: 1916
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