FX.co ★ AKR48 | XAU/USD, GOLD

XAU/USD For the second day in a row, gold is down, although it is still inside range at $4,700. On Wednesday, precious metals are being impacted by rising US Treasury yields. Investors will probably hold off on making judgements until after the Trump-Xi meeting. Halfway through the weekly trading range, gold (XAU/USD) is trading a few pips below $4,700 at the time of writing. It is down for the second day in a row on Wednesday, but it is still stable. Despite the loss of the upward momentum seen last week, the precious metal is holding up very well amid the increase in US Treasury yields. Following the release of hotter-than-expected US Consumer Price Index data on Tuesday, precious metals remain cautious on Wednesday. Consumer prices increased from 3.3% in March to 3.8% annually in April, according to data, thus ruling out any additional interest rate reductions by the Federal Reserve. However, investors are still cautious on Wednesday as they await news from US President Trump's visit to China. Trump is expected to ask Chinese President Xi Jinping for help in resolving the Iranian standoff, which could weaken his demands on trade issues. Xi is also expected to bring Taiwan's status to the table, and the meeting's outcome could set the tone for financial markets through the end of the week. In order to resolve the impasse in Iran, he is probably going to ask Chinese President Xi Jinping for help, which could weaken his demands about trade. In response, Xi is probably going to discuss Taiwan's position. The meeting's decision could determine how the financial markets behave until the end of the week.