Gold price (XAU/USD) is trading on correction towards $1,860 in the Asian session after reaching the high of $1868 yesterday as investors anticipate the release of the Federal Open Market Committee (FOMC) minutes and US Durable Goods data later today.
The yellow metal jumped strongly for the past week after reaching the low of around $1,786 printed on May 16.
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The strength in gold prices is due to the DXY's steep fall below 102.00 after making a record 19-year high of 105.00 on May 13. Following this, further gains in gold cannot be ruled out.
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Source: Online Trading Platform | Currencies, Commodities, Stocks, Cryptos | ICM.com