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GOLD FALLS AS USD FINDS A FLOOR AND RECOVERS

hagijeee
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  • Gold price is weakening on Tuesday on the back of a rise in the US Dollar. 
  • The USD’s recent decline was due to weak US jobs data, but Fed commentary put a floor under the sell-off. 
  • Fed policymakers made it clear they are still not in a hurry to cut interest rates, boosting the Greenback. 

The Gold price (XAU/USD) trades down by roughly a third of a percent, in the $2,310s on Tuesday, as the US Dollar (USD) recovers, reducing the cost of Gold which is priced in USD. 


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