Gold consolidative phase continued on Wednesday, with XAU/USD seesawing around $2,325.00 a troy ounce.
XAU/USD Current price: $2,328.21 United States´ second round of tepid data weighed on Wall Street. Upcoming US data could speed up the Fed eral Reserve’s decision to trim rates. XAU/USD turned near-term neutral, bulls seem unwilling to give up. Financial markets are gearing up for upcoming first-tier United States data following a batch of discouraging figures. Following softer-than-anticipated S&P Global PMIs released on Monday, the country reported Durable Goods Orders rose 2.
Meanwhile, intraday news affected Wall Street. US indexes trade with modest losses, unable to replicate the positive tone of their Asian and European counterparts. The US Dollar is also suffering from softer-than-anticipated figures, although activity remains limited across the different boards. XAU/USD short-term technical outlook XAU/USD keeps hovering around the 23.6% Fibonacci retracement of the $1,996.06/$2,431.43 rally, unable to clearly recover above the level.
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