Resurgent demand for the US Dollar weighed on Gold price, sending XAU/USD to an intraday low of $1,953.53 a troy ounce during London trading hours. F
XAU/USD Current price: $1,975.54 Financial markets are in a better mood on Tuesday despite mixed growth figures. Government bond yields stabilized far below their Monday peaks. XAU/USD changed course after an early dip to $1,953, bulls maintain the pressure. inancial markets kick-started Tuesday with a bit more optimism as Israel continues to delay a ground incursion into the Gaza Strip, hoping Hamas will continue to free hostages.
The preliminary estimate of the Manufacturing PMI printed at 50, while the services index came in at 50.9. Finally, the Composite PMI was reported at 51, the highest in three months. Mid-American session, Treasury yields are stable, while US indexes remain in the green, allowing XAU/USD to trim intraday losses. XAU/USD short-term technical outlook XAU/USD trades above $1,970 a troy ounce, and the daily chart shows it posted a lower low and lower high, which somehow anticipates upward exhaustion.
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