Gold Price drops on downbeat sentiment
Gold Price (XAU/USD) edges lower to $1,950 after a softer start to the week, despite a sluggish one due to the United States holiday, as market sentiment appears souring while the Federal Reserve (Fed) signals have been hawkish of late. Furthermore, indecision about the US-China ties and a light calendar also exert downside pressure on the XAU/USD.
Gold Price began the trading week on a negative foot, after snapping a two-week uptrend in the last, as the risk appetite weakens amid fears of economic slowdown in the global economy, led by hawkish monetary policies at the major central banks and dismal economics. Also challenging the sentiment were mixed concerns about the US-China tussles over Taiwan, despite the recently upbeat talks.
XAUUSD SELL LIMIT 1960 - 1963
✅𝖳𝖯1 1955
✅𝖳𝖯2 1950
✅TP3 1945
🛑𝖲𝖫 1968
Gold Price began the trading week on a negative foot, after snapping a two-week uptrend in the last, as the risk appetite weakens amid fears of economic slowdown in the global economy, led by hawkish monetary policies at the major central banks and dismal economics. Also challenging the sentiment were mixed concerns about the US-China tussles over Taiwan, despite the recently upbeat talks.
XAUUSD SELL LIMIT 1960 - 1963✅𝖳𝖯1 1955
✅𝖳𝖯2 1950
✅TP3 1945
🛑𝖲𝖫 1968
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