XAUUSD: Break out of the sideway zone!
Gold Price stays pressured despite downbeat United States Treasury bond yields
The price of gold remains low despite the positive outlook of the US bond market, which indicates confidence in the US policymakers' agreement to extend the debt-ceiling until January 2025. The XAU/USD weakness may be due to the opposing views of some policymakers, specifically the Republicans, who are not in favor of the compromises that were made to reach the deal. They are prepared to dispute the move both in the House and the Senate, which can be seen as a negative risk signal.
Plan trade in the intro
The price of gold remains low despite the positive outlook of the US bond market, which indicates confidence in the US policymakers' agreement to extend the debt-ceiling until January 2025. The XAU/USD weakness may be due to the opposing views of some policymakers, specifically the Republicans, who are not in favor of the compromises that were made to reach the deal. They are prepared to dispute the move both in the House and the Senate, which can be seen as a negative risk signal.
Plan trade in the intro
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