Gold Prices Gain on Dollar and Yield Retreat Ahead of Key U.S.D

Gold prices advanced on Tuesday as both the dollar and Treasury yields pulled back from recent highs, with investors eagerly awaiting crucial U.S. inflation and jobs data releases this week that could significantly shape the trajectory of interest rates.

**Specifically:**

- **Spot Gold:** As of 0354 GMT, spot gold climbed by 0.3%, reaching $1,924.84 per ounce. This placed it in proximity to its highest level since August 10, a peak achieved just the day before.

- **U.S. Gold Futures:** U.S. gold futures also experienced a 0.3% gain, rising to $1,952.90.

- **Market Analysis:** According to Kelvin Wong, a senior market analyst in Asia Pacific at OANDA, the increase in gold prices can be attributed to short-covering by short-term speculators. This uptick occurred as gold broke through a minor key resistance level at $1,907, which happened to coincide with the 200-day moving average.

These dynamics suggest a cautious optimism in the gold market as investors closely monitor economic data releases that could have significant implications for future interest rate decisions.

XAUUSD SELL 1923- 1925🕯

✔️ TP1: 1916
✔️ TP2: 1910

🚫 SL: 1929