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Gold, Silver, AUD/USD Technical Analysis Ahead of US Nonfarm Payrolls
Gold (XAU) and Gold (XAU) continued to correct lower after the market opened on Monday, while the US Dollar went up as Fed Chair Powell mentioned that the central bank would gradually lower interest rates. This correction in gold and silver is due to the market’s overbought conditions. However, the escalation of the geopolitical crisis in the Middle East will likely provide additional support for precious metal prices. Meanwhile, AUD/USD remains strong while gold trades near record levels. Upcoming ISM Services PMI data on Thursday and US Nonfarm Payrolls data on Friday are expected to significantly impact gold, ... (full story)
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- Posted: Oct 1, 2024 10:40pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 6,180
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