Gold Rebounds From Weekly Low as Dollar Softens Before FOMC Minutes
Gold recovered from its weekly low reached during Wednesday’s Asian session, climbing back above $4,350 as the U.S. dollar softened ahead of FOMC minutes.
XAUUSD
Spot gold (XAU/USD) recovered from its weekly low on Wednesday after the low was touched during the Asian session. The price climbed back above $4,350 in the latest move.
The rebound came as the U.S. dollar softened ahead of the release of FOMC meeting minutes. The dollar’s pullback helped ease pressure on gold after the earlier decline.
The FOMC minutes are the key event referenced, with XAU/USD gaining ground into the release as the greenback lost some strength.
Source: FXStreet Forex News