Long term outlook remains the same

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Two positions are active in the portfolio

The Dovish Fed and concerns about a global economic slowdown have surely benefited the precious metal sector which caused the price gain of more than 3% in gold since early march.we have also witnessed the dovish announcement by fed spokesperson about no hiking in the interest rate in this year which shoots up the price of the yellow metal from $1303 to $1324.Today after hitting one-month high gold and silver are in minor correction as a slight recovery in the equities and U.S Treasury yields reduced some of the precious metal's safe-haven appeal. The 10-year U.S. Treasury yield fell below the yield for three-month bills on Friday for the first time since 2007, inverting the yield curve. An inversion is widely seen as an indicator of an economic recession. However, U.S. 10-year Treasury yields edged up on Tuesday, lifting Asian shares, but the outlook remained murky as investors weighed the odds of whether the U.S. economy is in danger of slipping into recession. "Risk of a U.S economic slowdown has gone up and interest rates are on hold, which is giving some stimulus to gold , but it's not enough to skyrocket gold prices. Investors need more confirmation of further weakness in the economy.

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