Gold set for a fifth weekly loss

From monetamarkets.com

XAU/USD beating continues for the fifth consecutive week. The precious metal loses its sheen as investors are shunned from the asset. The exponential rise in the US dollar since March 2022 brings a rout in the financial market. Why USD is rising? The U.S dollar index (DXY) topped the 109.00 mark on Thursday, refreshing a 20-year high. The U.S dollar renewed its ‘king’ of the market status in recent times. Global recessionary fears, historic high-level inflation, and Fed’s aggressive tightening bet replenish the safe-haven status of the U.S dollar. China, the world second largest economy posted pessimistic GDP ... (full story)