DNP-FX

XAUUSD 4th JULY 2022

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
US Independence Day holidays could limit XAU/USD moves and so could the hawkish bets that have recently eased on the Fed's next move. However, this week's Federal Open Market Committee (FOMC) Meeting Minutes and the US Jobs report will be very important to watch.

Gold fell slightly as it tried to hold on to $1,800 during Monday's Asian session, after declining for the past three weeks. The yellow metal confirms the risk-off sentiment amid fears of an economic slowdown but remains dormant amid US holidays.
Recession fears intensified on Friday after the US ISM Manufacturing PMI slumped to two-year lows. Adding to the risk-off sentiment were further geopolitical tensions between Russia and Ukraine, as well as China's failure to impress buyers.

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