Gold price trades with a mild negative bias for the second successive day on Tuesday.
Hawkish Fed expectations, elevated US bond yields and some USD buying exert pressure. Receding safe-haven demand also undermines the XAU/USD ahead of the FOMC meeting. Gold price remains depressed for the second successive day on Tuesday and trades below the $2,000 psychological mark through the Asian session.
A convincing break, however, might prompt some technical selling and drag the XAU/USD further towards the $1,964 intermediate support en route to last week's swing low, around the $1,954-1,953 region. On the flip side, the $2,000 round figure, followed by the multi-month top, around the $2,005 area touched last Friday, now seems to act as immediate hurdles.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD to soar on a regional escalation of the Middle East conflictGold should remain a good hedge, despite worries that rates will remain higher for longer, economists at UBS report.
Read more »
Gold Price Forecast: XAU/USD dips below $2000 as Middle East conflict fears easeGold price (XAU/USD) fell below the $2000 mark late in the New York session, registering losses of 0.
Read more »
Gold aims for stabilization above $2,000 amid Middle East tensions, Fed policy eyedGold price (XAU/USD) delivered a moderate corrective move after printing a fresh five-month high. The precious metal slips marginally as investors tur
Read more »
Tuberville falsely claims Dems ‘created’ wars in Ukraine, Middle EastSteve Benen is a producer for 'The Rachel Maddow Show,' the editor of MaddowBlog and an MSNBC political contributor. He's also the bestselling author of 'The Impostors: How Republicans Quit Governing and Seized American Politics.'
Read more »
China Masses Warships in Middle East to 'Assert' PowerChina contends that the presence of six of its warships in waters near the Middle East - where the conflict between Israel and Hamas is intensifying - is merely due to a 'long-running' naval rotational deployment.
Read more »
Biden Administration Preps for Broader Middle East WarThe White House is preparing for the Israel-Hamas war potentially to expand across the Middle East and is focusing on making sure U.S. forces in the region have the protection they need.
Read more »