Here is the XAUUSD news update for today, April 2, 2024. Gold prices have risen for six consecutive days, nearing an all-time high around $2,265-$2,266. Geopolitical tensions and uncertainty over Fed interest rate policy support gold prices as a safe haven. 
 
Positive U.S. manufacturing data has led investors to doubt a Fed rate cut in June, strengthening the U.S. Dollar and capping gold’s gains. Buyers are awaiting daily chart consolidation and U.S. macro data, as well as FOMC member speeches today.
 
Daily Market Movers Summary: Gold prices continue to be supported by hopes of a Fed rate cut and geopolitical risks.
 
  • The U.S. manufacturing sector grew in March after 16 months of contraction, altering investor expectations for a Fed rate cut in June.
  • Rising expectations lifted U.S. Treasury yields, supporting the U.S. Dollar and pressuring gold prices.
  • The sharp rise in U.S. bond yields, along with geopolitical tensions in the Middle East, reduced investor interest in risky assets, supporting gold as a safe haven.
  • Israeli airstrikes in Syria heightened tensions between Israel and Iran.
  • The U.S. PCE Price Index showed moderate inflation increases, but expectations for a Fed rate cut remain, limiting gold’s decline.
  • U.S. economic data, including JOLTS Job Openings and Factory Orders, along with FOMC member speeches, will impact USD demand.
 
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This is the news regarding “XAUUSD Today: April 2, 2024 - Bullish Gold Momentum Continues!”. Today's XAUUSD analysis is based on fundamental and technical perspectives from reliable sources and is not a recommendation or solicitation. Always remember that this content aims to enrich the reader's knowledge. Always conduct independent research regarding other forex information for your trading references.
 
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