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Home Gold News Gold (XAU/USD) Dips to $2,013 Amidst Upcoming US Economic Indicators

Gold (XAU/USD) Dips to $2,013 Amidst Upcoming US Economic Indicators

by anna

During Wednesday’s trading session, XAU/USD was observed at $2,013, experiencing a notable 0.80% decline. The daily chart signals a neutral to bullish outlook, with an overall trend favoring bulls. However, a closer look at the four-hour chart reveals more evident negative movements. The decline is attributed to the impact of rising US yields ahead of crucial economic indicators from the United States.

As market participants await fresh catalysts to shape their views on the Federal Reserve’s (Fed) easing cycle, the resilience of US yields suggests reduced confidence in an imminent easing move by the central bank. Elevated yields tend to diminish the appeal of non-yielding metals like gold, as interest rates are often perceived as the cost associated with holding such assets.

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Investor focus now turns to key economic data, particularly the Personal Consumption Expenditures (PCE) and preliminary Q4 Gross Domestic Product (GDP) figures scheduled for release on Thursday. These indicators are expected to provide valuable insights into the Fed’s potential easing timeline, setting the tone for market sentiment.

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