Gold Prices and US Dollar Turn to PPI and Sentiment Data Before the Weekend
Gold Prices and US Dollar Turn to PPI and Sentiment Data Before the Weekend Gold prices were little changed on Thursday amid divergent performance between the US Dollar and Treasury yields. The anti-fiat yellow metal often finds itself the most sensitive to the latter two instruments moving in the same direction. This means that when the Greenback and bond yields go their own separate ways, that could mute XAU/USD’s performance. A rally on Wall Street helped propel Dow Jones and S&P 500 futures by about 0.53% and 0.74%, respectively. The rosy session cooled demand for safety, placing the anti-risk US Dollar on the defensive. The DXY Index closed at its lowest since the beginning of this week. Demand for Treasuries likely faded, pushing down prices as yields climbed. When the latter two move in different directions, the net effect on gold can be neutralized. This is leaving XAU/USD facing US PPI and University of Michigan consumer sentiment data d...
