Gold Clings to Key Short-Term Support near $1,800 Amid The Holiday-Shortened Week

gold

Gold price (XAU/USD) remains mildly bid as bears take a breather after a two-day downtrend. Even so, mixed catalysts challenge the metal buyers in consolidation the biggest daily fall in over a week.

That said, optimism surrounding China’s pro-growth policies and the Sino-American tussles contradict of late, which, in turn, tests Gold traders. However, a lack of momentum in the bond markets seems to restrict immediate XAU/USD moves as traders await the US Core Personal Consumption Expenditure (PCE) – Price Index and Durable Goods Orders for November ahead of a holiday-shortened final week of 2022.

The cautious sentiment could also be linked to the recently firmer US GDP and CB Consumer Confidence figures that renewed hawkish Fed bets. However, the US central bank hasn’t been too convincing for the XAU/USD bulls in its latest monetary policy meeting. As a result, firmer prints of the scheduled data become necessary to recall the Gold sellers.

This Post Has 2 Comments

  1. najlepszy sklep

    That is really interesting, You are an excessively professional blogger.
    I have joined your feed and sit up for seeking more of your fantastic
    post. Additionally, I have shared your web site in my social networks I saw similar here:
    Najlepszy sklep

  2. sklep online

    Wow, incredible blog layout! How lengthy have you been running a blog for?
    you make running a blog glance easy. The full glance of your website is excellent, let
    alone the content material! You can see similar here e-commerce

Leave a Reply

Important Link

Fund Your Deriv Account
Withdraw Funds to Your Local Currency
VIP Trading Signals
Learn To Trade

Contact Us

Follow Us

Disclaimer

Forex, Crypto, Options, and Binary Options have both large potential rewards and large potential risks. Therefore, before investing or trading any of the assets, ensure you are aware of and willing to accept the accompanying risks. Do not trade money you cannot afford to lose.

All Rights Reserved. None of the content of this website can be published elsewhere by any means without the prior consent of the owner(s). Please, check our terms & conditions and privacy policy before continuing to use this website.

This website and its owner(s) are not in any way liable for any incurred loss, whether caused by the information provided on this website or otherwise. The use of this website, including the content and information provided, is the user’s sole liability.