Gold (XAU/USD) faced fresh selling pressure during the Asian trading session on Tuesday, eroding some of its modest recovery gains from the previous day’s low of $2,287, the lowest in a month. This decline was largely in response to optimistic U.S. employment data.
Investors are now less confident about the Federal Reserve cutting interest rates in September. This sentiment has kept U.S. Treasury yields elevated and provided strong support for the U.S. Dollar (USD), which held firm near its multi-week high reached on Monday.
As a result, the strengthening USD appears to be diminishing demand for precious metals like gold.
Investors are now less confident about the Federal Reserve cutting interest rates in September. This sentiment has kept U.S. Treasury yields elevated and provided strong support for the U.S. Dollar (USD), which held firm near its multi-week high reached on Monday.
As a result, the strengthening USD appears to be diminishing demand for precious metals like gold.
Join the community group for the earliest support on short scalping and trading strategies!
✅ Knowledge of trading
✅ Support Free Trading Signals win rate 80%
FREE Chanel Signals: t.me/+TkyS7Rg4jN9iZjk1
✅ Knowledge of trading
✅ Support Free Trading Signals win rate 80%
FREE Chanel Signals: t.me/+TkyS7Rg4jN9iZjk1
