GOLD
Gold prices are trending lower this morning. After last week's signals from senior Federal Reserve officials, indicating that interest rates will likely only be cut once this year, possibly in December, traders acted swiftly. US Treasury yields found support, and the dollar gained ground against other major currencies, consequently affecting the precious metal's price. Additionally, increased risk appetite in equity markets is creating resistance to gold prices. Against this backdrop, the Fed's monetary policy remains the most significant factor influencing bullion prices, prompting traders to closely monitor this week's US economic calendar releases and public statements by senior Fed officials.
Ricardo Evangelista – Senior Analyst, ActivTrades
Source: ActivTrader
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