Spot Gold keeps reaching record highs on a daily basis, hitting 2,353.64 a troy ounce on Monday.
XAU/USD Current price: $2,329.91 The US Dollar trades with a weaker tone amid a better market mood. Central banks' decisions and US inflation take centre stage this week. XAU/USD corrected from a fresh record high, maintains the bullish tone. XAU/USD retreated from its Asian peak and currently trades below the $2,330 threshold as a better market mood undermines demand for the bright metal.
Upcoming inflation data will surely be a make-it-or-break for the USD. XAU/USD short-term technical outlook XAU/USD's bullish trend is evident in the daily chart, which shows the pair consistently developing above all its moving averages. The 20 Simple Moving Average has been steadily increasing but stands far below the current level and above the longer ones, showing a clear uptrend.
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