FX.co ★ AB2 | XAU/USD, GOLD

XAU/USD Gold continued to rise, reaching a new three-month high above $4,500. A strategy to boost long-term bond buybacks was unveiled by the US Treasury Department. According to the technical perspective, the short-term bullish bias is still

Gold (XA/USD) gained positive momentum after the turbulent activity of the previous week, rising to its highest level since late May and hitting $4,600. Although the technical prognosis for XAU/USD emphasises buyers' dominance in the near term, significant events that might increase market volatility are scheduled for next week. Following the poor economic data releases from the previous week, investors continued to reduce their expectations for a Federal Reserve (Fed) rate hike in September, which caused the US dollar (USD) to begin the week under negative pressure and gold to rise about 1% on

lost its bullish momentum and ended the day deep in negative territory on Tuesday as Middle East tensions came back into the focus. The US government is not requesting a renewal of the Memorandum of Understanding, US President Donald Trump recently stated. Furthermore, Trump allegedly threatened to strike Oman if it interfered with his administration's talks with Iran, according to Fox News. Meanwhile, a ship was hit by an "unknown projectile" while trying to cross the Strait of Hormuz, according to a report released early on Tuesday by UK Maritime Trade Operations (UKMTO). Meanwhile, as investors responded to increased uncertainty surrounding the Middle East situation, the yield on the 30-year Treasury bond rose to its highest level in almost 20 years.