GOLD is down day 17/05/2023
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Gold price is erasing Monday’s gains, plunging 0.80%, as data from the United States (US) showed signs of resilience amidst a solid retail sales report.
Industrial Production recovered in April, though manufacturing production stood at contractionary territory. The factors mentioned above and the US bond yields rising were a headwind for XAU/USD prices.
Hawkish tones from Fed officials Mester and Barkin contribute to rising US Treasury bond yields, further pressuring gold prices.
Industrial Production recovered in April, though manufacturing production stood at contractionary territory. The factors mentioned above and the US bond yields rising were a headwind for XAU/USD prices.
Hawkish tones from Fed officials Mester and Barkin contribute to rising US Treasury bond yields, further pressuring gold prices.
Note
gold is running true direction
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