XAUUSD : Gold maintains strength amid pressure on USD
Gold prices extend strong gains as USD comes under pressure, focus turns to today's services PMI report.
In the March 4 session, gold prices extended their strong upward momentum in the context of the greenback being under pressure. In the European session, gold increased sharply from $2,083 to over $2,100 and closed the session at $2,119. Lower-than-expected US economic data and the weakening of the USD continue to be supportive stepping stones for precious metals.
Today, the market will receive the US services PMI report, before Fed Chairman Powell's hearing and the JOLTS jobs report on Wednesday. Currently, gold is falling slightly to $2,112.
In the March 4 session, gold prices extended their strong upward momentum in the context of the greenback being under pressure. In the European session, gold increased sharply from $2,083 to over $2,100 and closed the session at $2,119. Lower-than-expected US economic data and the weakening of the USD continue to be supportive stepping stones for precious metals.
Today, the market will receive the US services PMI report, before Fed Chairman Powell's hearing and the JOLTS jobs report on Wednesday. Currently, gold is falling slightly to $2,112.
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