Gold Slips as USD Rebounds, Strong ISM Data Clouds Fed Path
Gold declined on Monday as the US dollar recovered and strong ISM data added to uncertainty around the Federal Reserve's rate trajectory. The XAUUSD pair traded at $4,037, down on the day.
XAUUSD
Gold came under pressure on Monday, with XAUUSD falling to $4,037. A rebound in the US dollar and robust ISM economic data combined to push the precious metal lower.
The stronger-than-expected ISM print raised doubts about the pace of future Federal Reserve rate cuts, weighing on non-yielding assets like gold. Even a pause in Middle East hostilities, announced by President Trump at the request of Iran and other regional nations, failed to lend support to the safe-haven metal.
Source: FXStreet Forex News