Spot Gold hovers around $1,980 a troy ounce, reverting an early spike to $1,992.
XAU/USD Current price: $1,978.21 United States employment-related data pointed to a still tight labor sector. The Federal Reserve is widely anticipated to keep rates on hold for a second month in a row. XAU/USD gains near-term bearish traction could fall towards $1,947 in the Fed’s aftermath. Spot Goldhovers around $1,980 a troy ounce, reverting an early spike to $1,992.02. The US Dollar trades with a firm tone ahead of the long-awaited United States Federal Reserve monetary policy announcement.
However, the USD quickly regained the ground lost as stock markets trimmed early gains in preparation for the central bank announcement. Finally, government bond yields are in retreat mode after the Treasury announced upcoming auction sizes of $112 billion, slightly below the $114 billion anticipated by financial markets. The Treasury also announced plans to increase auction sizes one more time.
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