The price of the precious metal, XAUUSD, experienced a dip, reaching a low point in nine weeks. This was due to recent data indicating that the US economy is doing well. The positive data strengthened the possibility that the US Federal Reserve (Fed) may continue to pursue its current monetary policy.
The US Dollar Index and US Treasury yields also contributed to this decline. The index rose by 0.31%, crossing 104 points, and making gold less attractive to buyers holding other currencies.
Despite this, there are still concerns about the reliability of other assets. As market volatility increases, investors tend to turn to gold.
The US Dollar Index and US Treasury yields also contributed to this decline. The index rose by 0.31%, crossing 104 points, and making gold less attractive to buyers holding other currencies.
Despite this, there are still concerns about the reliability of other assets. As market volatility increases, investors tend to turn to gold.
