Gold Price Forecast: XAU/USD bears approach $2,000 amid US default fears ahead of Retail Sales Gold XAUUSD RiskAversion FiscalPolicy Politics
an session. In doing so, the bright metal bears the burden of the markets’ cautious mood ahead of theIt’s worth noting that the US Dollar Index picks up bids to refresh its intraday high near 102.50, following the downbeat Monday, as it cheers the market’s fears of the US default and anxiety ahead of the key US data.
Amid these plays, S&P 500 Futures dropped 0.30% intraday even as Wall Street closed positive and the yields remain pressured, which in turn shows the market’s indecision and awaits the important data/events for clear directions. The XAU/USD pullback, however, fails to gain support from the RSI line as it drops below the 50.0 level and suggests bottom-picking.
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