Gold Price Forecast: XAUUSD advances to $1740, after reaching a 9-month low near $1730 – by christianborjon Gold XAUUSD Commodities Metals Macroeconomics
investors cheered China’s stimulus. At the time of writing, XAUUSD is trading at $1741.48 a troy ounce, slightly up 0.17%.Global equities are rallying, while the Fed’s last monetary policy minutes further cemented the case for a 75 bps rate hike in July, and the greenback recedes from 2-year highs, as shown by the US Dollar Index, back below the 107.000 figure.
On Monday, rumors that the US might lift tariffs on China’s products remain as that. A Senior US Department of State said that no announcement is expected from Secretary Blinken at his meeting with China’s Foreign Minister Wang Yi.
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