Gold price (XAU/USD) trades close to fresh all-time highs near $2,260 in Tuesday’s European session.
Gold price clings to gains even though the upbeat US Manufacturing PMI has improved the appeal for the US Dollar. 10-year US yields rise further as traders pare Fed rate cut expectations for June. The US NFP report will guide the next big move for Gold. Gold price trades close to fresh all-time highs near $2,260 in Tuesday’s European session.
Fed Chair Jerome Powell said on Friday after the release of the US core PCE Price Index data for February that the latest US inflation data was along the lines of what we would like to see. However, Powell also acknowledged that there is no need for the Fed to rush for rate cuts. Technical Analysis: Gold trades close to all-time highs around $2,260 Gold price trades higher, near all-time highs around $2,260.
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