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XAU/USD Development Information For Traders and Sellers
World gold prices, XAU/USD today moved around $1,770 as bulls and bears jostled during Wednesday morning. The precious metal's struggle for clarity of direction was recently reinforced by China's trade surplus narrowing since November due to the impact of Exports and Imports falling during the month. On the same side, there was a gradual increase in US Treasury yields amid concerns about a slowdown in the global economy.
XAU/USD Today[/caption] China's readiness to announce fiscal and monetary policies with caution, and gradual instructions to remove the zero-Covid policy that has been running for three years, has caused gold prices to fall.
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Amidst these plays, US stock futures are posting modest gains for stocks trading in the Asia-Pacific zone. Reportedly, US inflation expectations failed to sustain hawkish bets on the Fed’s next move during the pre-FOMC blackout. Looking ahead, a possible news release on China’s upside risks and second-tier data could entertain gold traders ahead of China’s inflation figures due on Thursday and the preliminary reading of the US Michigan consumer sentiment index on Friday.
AUX/USD Technical Analysis Today
A clear reversal from the six-month horizontal resistance zone at $1,805, as well as a downside break of the 200-DMA near $1,749, has gold traders hopeful despite the weak MACD signal.If the precious metal remains bearish, breaking through $1,765 from just $1,740 at last week's low, it could potentially attract sellers. Regarding AUX/USD today, Alternatively, the 61.8% Fibonacci retracement level of the metal's June-September decline and the 200-day moving average are around $1,779 and $1,749. In that order, it could certainly test gold traders before making another attempt to break through the dollar barrier around $1,805. Overall, AUX/USD remains bearish today, but a clear breakout to $1,765 is still needed by sellers. That's the information we share regarding today's XAU/USD information. Keep updating information related to investment and other forex trading through the GIC journal every day. Of course, you can also trade through the GICtrade application with the new ECN account feature, enjoy your trading with the lowest spread prices starting from 0 Rupiah! You also have the opportunity to win billions of Rupiah in prizes without a draw through the GIC Gebyar Hadiah.Asian Stock Market, Global Crude Oil Prices Weaken Due to Easing of Lockdown in China
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