Fundamental Overview Gold price is licking it wounds following a two-day downtrend, as the US Dollar has paused its recent upbeat momentum, despite a cautious market mood. Investors turn cautious amidst the revival of the hawkish Federal Reserve (Fed) expectations and fiscal worries in the United States, as they brace for the BoE interest rate decision and key US ISM data and tech earnings report.
An unexpected improvement in the Chinese Caixin Services PMI also aids the Gold price, as China is the world’s biggest Gold consumer. China's Services Purchasing Managers' Index (PMI) rose to 54.1 in July, compared with a 53.9 expansion seen in June. The gauge was expected to drop to 52.5 in the reported month.
Gold sell zone 1933 Target 1928 Target 1925 Target 1915
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