Xauusd Gold intraday
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Wednesday’s US economic calendar included the release of the US Housing Starts (MoM) data for July, which increased to 1.452M from the previous month's 1.398M. This exceeded the expected figure of 1.448M. Additionally, the Monthly Industrial Production rose of 1%, surpassing the projected growth of 0.3% and swinging from the previous month’s 0.8% decline. However, US Building Permits experienced a minor rise to 1.442 million in July from the prior 1.441 million, falling short of the anticipated 1.463 million.
Concerns about China's deteriorating economic prospects could put pressure on Gold's ability to sustain its value. Moreover, robust US economic performance triggered the US Treasury bond yields, bolstering the US Dollar (USD). This upward momentum in the USD could exert downward pressure on the price of Gold.
Gold sell limit 1903-1906
Target 1980
Concerns about China's deteriorating economic prospects could put pressure on Gold's ability to sustain its value. Moreover, robust US economic performance triggered the US Treasury bond yields, bolstering the US Dollar (USD). This upward momentum in the USD could exert downward pressure on the price of Gold.
Gold sell limit 1903-1906
Target 1980
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