After experiencing a five-day losing streak, the Gold Price is beginning to recover from its recent losses at a weekly low.
The decline in price can be attributed to the strength of the US Dollar and ongoing concerns about China's economic situation.
The positive United States data and discussions by the Federal Reserve have caused yields, as well as the US Dollar, to rise while putting pressure on the Gold Price.
Moving forward, market participants will be closely monitoring risk factors, mid-tier US data releases, and signals from the Fed for any potential shifts in momentum.
This bearish sentiment has prompted caution despite a two-week rebound in previous weeks.
During the early hours of Thursday's Asian session, the price of gold (XAU/USD) is showing a rebound from a one-week low at $1,918.
This comes after five consecutive days of decline. Despite the bearish trend caused by a stronger US Dollar and higher United States Treasury bond yields, gold is looking for further indications to support its recent downward movement.
Additionally, concerns arising from China are also influencing the situation.
The decline in price can be attributed to the strength of the US Dollar and ongoing concerns about China's economic situation.
The positive United States data and discussions by the Federal Reserve have caused yields, as well as the US Dollar, to rise while putting pressure on the Gold Price.
Moving forward, market participants will be closely monitoring risk factors, mid-tier US data releases, and signals from the Fed for any potential shifts in momentum.
This bearish sentiment has prompted caution despite a two-week rebound in previous weeks.
During the early hours of Thursday's Asian session, the price of gold (XAU/USD) is showing a rebound from a one-week low at $1,918.
This comes after five consecutive days of decline. Despite the bearish trend caused by a stronger US Dollar and higher United States Treasury bond yields, gold is looking for further indications to support its recent downward movement.
Additionally, concerns arising from China are also influencing the situation.
