Demand for the US Dollar returned on Tuesday, with risk-off flows moving away from Gold.
XAU/USD Current price: $2,325.17 United States job openings contracted by more than anticipated in April. Treasury yields edged further lower while US indexes also shed ground. XAU/USD could accelerate its slide once below $2,314.63, the weekly low. XAU/USD trades around $2,325, down for the day. Tepid United States growth-related data undermined demand for the American currency on Monday, pushing the pair towards a weekly high of $2.354.
Government bonds surged, sending yields even lower from their recent peaks, although stock markets are unable to lift their heads. The three major US indexes trade in the red, albeit losses are modest. XAU/USD short-term technical outlook From a technical point of view, XAU/USD is poised to extend its slide. The daily chart shows it retreated from near a mildly bullish 20 Simple Moving Average for the fourth consecutive day.
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