Gold Price Forecast: XAU/USD struggles around $2,400 as concers ease

Category: Finance

Concerns over US economic health and escalating Middle East tensions have led to significant risk aversion in financial markets, causing XAU/USD to drop sharply. The US Dollar strengthened against Gold as Treasury yields fell, indicating a potential recession. Despite a brief recovery in Gold prices, technical indicators suggest continued downside risk.

Keywords: US economy, Gold market, Middle East tensions

Source: FXStreet

Update At: 8/6/2024

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