Gold (XAU/USD) Weekly Forecast: Bullish
- Gold volatility subsides ahead of high importance US data
- Gold nudges higher despite lack of major bullish drivers
- Risk events ahead: US quarterly refunding announcement, FOMC , NFP
- Elevate your trading skills and gain a competitive edge. Get your hands on the Gold Q2 outlook today for exclusive insights into key market catalysts that should be on every trader's radar:
Gold Volatility Subsides Ahead of High Importance US Data
Gold volatility has subsided drastically now that the risk of a broader conflict between Israel and Iran have been greatly reduced. Riskier assets like the S&P 500 and high-beta currencies like the Aussie dollar and British pound managed to claw back prior losses as risk sentiment improved. As a result, gold’s former safe haven bid has had the wind taken out of its sails.
In the coming week, the US Treasury is set to update the public on details of its funding needs and will provide specifics around whether bond issuance is likely to favour shorter or longer duration - which is likely to affect the shorter and longer dated yields and potentially, gold.
Gold Volatility Index (GVZ)
