XAUUSD H12 | Important Movement

- Gold prices spiked higher early Tuesday on technical buying, but gains were limited by a surge in the U.S. Dollar. The rally into its highest level since June 2022 was helped by a drop in Treasury yields. Nonetheless, the trade was a little cautious as investors assessed the prospects for more Federal Reserve interest rate hikes.
- Gold could spike even higher if the Fed minutes reveal that central bank policymakers are considering slowing the pace of rate hikes and ending the hiking cycle at a lower peak rate than currently anticipated.