XAU/USD hovers around $1,925 amid the geopolitical tensions, Chinese stimulus hope
The post XAU/USD hovers around $1,925 amid the geopolitical tensions, Chinese stimulus hope appeared on BitcoinEthereumNews.com. Gold price trades near $1,925 amid the mixed sentiment. The geopolitical tensions between Israel and Palestine boost the demand for XAU/USD. The upbeat US inflation report has prompted investors to price in a possible rate rise by the Federal Reserve (Fed). Investors will focus on the US Retail Sales, Chinese growth numbers, and additional stimulus plans from China. Gold price (XAU/USD) posts modest losses around $1,925 during the early Asian session on Monday. The market sentiment is mixed as investors have some hope for a new round of Chinese stimulus plans to boost the economy, while the geopolitical tensions between Israel and Palestine remain the focus. Meanwhile, the US Dollar Index (DXY), a measure of the value of the USD relative to a basket of foreign currencies, declined to 106.60 after retreating from a high of 106.78. On Sunday, Israeli Prime Minister Benjamin Netanyahu vowed to “demolish Hamas” as his military got ready ground operations in Gaza to root out the militant group, According to Reuters. That said, the geopolitical tensions between Israel and Palestine boost the demand for a traditional safe-haven asset like Gold. On Friday, the preliminary US Michigan Consumer Sentiment Index for October fell to 63.0 from 68.1 the previous month, falling short of the 67.4 estimated. Meanwhile, one-year Inflation expectations climbed from 3.2% to 3.8%, and five-year inflation estimates grew from 2.8% to 3%. Additionally, the US Consumer Price Index (CPI) annually and monthly for September came in at 3.7% and 0.4%, respectively. Both figures exceeded the market expectations. The upbeat US inflation report has prompted investors to price in a possible rate rise by the Federal Reserve (Fed). This, in turn, might lift the US Dollar (USD) and weigh on the gold price. Apart from this, the positive development of a new round of Chinese stimulus plans…
The post XAU/USD hovers around $1,925 amid the geopolitical tensions, Chinese stimulus hope appeared on BitcoinEthereumNews.com.
Gold price trades near $1,925 amid the mixed sentiment. The geopolitical tensions between Israel and Palestine boost the demand for XAU/USD. The upbeat US inflation report has prompted investors to price in a possible rate rise by the Federal Reserve (Fed). Investors will focus on the US Retail Sales, Chinese growth numbers, and additional stimulus plans from China. Gold price (XAU/USD) posts modest losses around $1,925 during the early Asian session on Monday. The market sentiment is mixed as investors have some hope for a new round of Chinese stimulus plans to boost the economy, while the geopolitical tensions between Israel and Palestine remain the focus. Meanwhile, the US Dollar Index (DXY), a measure of the value of the USD relative to a basket of foreign currencies, declined to 106.60 after retreating from a high of 106.78. On Sunday, Israeli Prime Minister Benjamin Netanyahu vowed to “demolish Hamas” as his military got ready ground operations in Gaza to root out the militant group, According to Reuters. That said, the geopolitical tensions between Israel and Palestine boost the demand for a traditional safe-haven asset like Gold. On Friday, the preliminary US Michigan Consumer Sentiment Index for October fell to 63.0 from 68.1 the previous month, falling short of the 67.4 estimated. Meanwhile, one-year Inflation expectations climbed from 3.2% to 3.8%, and five-year inflation estimates grew from 2.8% to 3%. Additionally, the US Consumer Price Index (CPI) annually and monthly for September came in at 3.7% and 0.4%, respectively. Both figures exceeded the market expectations. The upbeat US inflation report has prompted investors to price in a possible rate rise by the Federal Reserve (Fed). This, in turn, might lift the US Dollar (USD) and weigh on the gold price. Apart from this, the positive development of a new round of Chinese stimulus plans…
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