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Gold falls on US Dollar Strength – Consumer Confidence on Focus
XAU/USD is trading at $1,811.63, down by 0.31% in the previous 24 hours. Gold prices remained in a narrow range as fears about increasing interest rates rose in the market. According to recent data, headline orders for durable goods declined by 4.5% in January. However, orders excluding transportation goods climbed by 0.7% during the reporting month, outweighing the setback. Moreover, numerous Fed policymakers stress the importance of raising interest rates to reduce inflation. It supports rising US Treasury bond rates while driving flow away from the non-yielding Gold price. United States 10-Year Bond Yield also ... (full story)
