XAUUSD 03/07: Gold opens the third quarter with the prospect of

XAUUSD Gold remains around $1,920, trying to extend the previous day's rally after falling for the past three weeks.

Gold prices met fresh supply at the end of the week and extended the day's steady downtrend into the early European session.

Fed Chairman Jerome Powell said earlier this week that he does not see inflation falling to the Fed's 2% target level through 2025. This continues to push US Treasury yields higher and support the USD.

The DXY index climbed to a fresh two-and-a-half-week high in the past hour and continued to gain support from expectations the Fed will tighten policy further.


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Comment:

Gold records quarterly losses, but retains part of its semi-annual gains.

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