Gold bulls fighting back control amid cautious risk tone. Dollar drops with T-yields, makes yieldless gold attractive. FOMC July meeting’s minutes to offer fresh direction. Having found support around $1985-80 region so far this Wednesday, gold (XAU/USD) is looking to extend its hold above the $1990 level, as the bulls remain unnerved ahead of the minutes of the US Federal Reserve’s last policy meeting. The yellow metal, however, continues to draw support from the slump in the US Treasury yields, reflective of the uncertainty over the US fiscal stimulus, which could undercut the nascent economic recovery. Further, the US-China tensions on the trade front, especially after US President Donald Trump said that he postponed last Saturday’s phase one trade deal review with China, underpins the haven demand for gold. Looking ahead, the FOMC minutes will hold the key to determine a fresh direction for the metal. Markets will look for any clues on the yield curve control and the long-term economic projections for near-term trading opportunities. Gold additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Japan: GDP outlook looks uncertain – UOB FX Street 2 years Gold bulls fighting back control amid cautious risk tone. Dollar drops with T-yields, makes yieldless gold attractive. FOMC July meeting’s minutes to offer fresh direction. Having found support around $1985-80 region so far this Wednesday, gold (XAU/USD) is looking to extend its hold above the $1990 level, as the bulls remain unnerved ahead of the minutes of the US Federal Reserve’s last policy meeting. The yellow metal, however, continues to draw support from the slump in the US Treasury yields, reflective of the uncertainty over the US fiscal stimulus, which could undercut the nascent economic recovery. Further, the US-China tensions… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
