Gold prices traded actively for the fourth day in a row on Thursday and are currently hovering just below the $1,920 region, or near a two-week high hit the previous day. However, XAU/USD lacks bullish confidence, needing caution before continuing the recent bounce from the $1,885 region or the lowest since March 13 and hitting this week's top.
Amid worsening economic conditions in China, a series of manufacturing surveys released on Wednesday painted a bleak picture of the health of the global economy. Furthermore, dismal macro data for the United States (US) showed that business activity in the country with the largest economy in the world approached the point of stagnation in August.
Amid worsening economic conditions in China, a series of manufacturing surveys released on Wednesday painted a bleak picture of the health of the global economy. Furthermore, dismal macro data for the United States (US) showed that business activity in the country with the largest economy in the world approached the point of stagnation in August.
Comment:
SELL XAUUSD : 1922 - 1924
SL: 1926
TP1: 1917
TP2: 1912
SL: 1926
TP1: 1917
TP2: 1912
Comment:
running +25pip
Comment:
🔹Nearly 90% of debt cancellation benefits will go to borrowers earning less than $75,000, per the White House.
The precious metal will face some significant challenges in the short term. Short-term Treasuries currently offer yields around 5%, which is significant competition for gold, which offers no yield and costs money to hold.