XAUUSD - Price pressure amid higher USDX, rising bond yields

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Gold prices were weaker at the start of Monday's US session. Precious metals are receiving selling interest as the US dollar index is higher and US Treasury yields are rising to start the trading week. December gold last fell $5.60 to $1,970.

Asian and European stock markets were mixed in overnight trading. US stock indexes opened slightly higher as the New York day session began.

The main US and China inflation reports this week will be the key data points for the market. Traders will also be keeping a close eye on the US Treasury bond market this week, as prices have fallen (yields are up).
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The IGCS gauge shows that about 76% of retail traders are net-long gold. Since the vast majority are biased to the upside, this continues to suggest that prices may keep falling down the road.
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🐾 SELL XAUUSD zone 1950 - 1952

⚠️ Stop Loss : 1957

💲 Take Profit 1: 1947
💲Take Profit 2: 1942
💲 Take Profit 3: 1935

🐾 BUY XAUUSD zone 1926 - 1924 (scalping)

⚠️ Stop Loss : 1919

💲 Take Profit 1: 1931
💲Take Profit 2: 1937
💲 Take Profit 3: 1945
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The Federal Reserve governor, Bowman, believes that the Fed needs to increase interest rates to bring inflation below the target of 2%. Gold prices have been negatively affected by recent increasing tensions between Russia and the UK, as well as the continued rise of the DXY index. Recent economic data from the US has impacted the future expected interest rates of the Fed. A weaker USD may lead to a gold price recovery, but it would require a catalyst such as the important CPI index happening tomorrow evening.
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Stocks rose Thursday after a key inflation reading showed slightly less year-over-year inflation growth than expected.
🟢The Dow Jones Industrial Average advanced 337 points, or 1%.
🟢The S&P 500 climbed 0.9%, and the Nasdaq Composite rose 1.1%.
andrewForexFundamental AnalysisfuturesGC1! (Gold Futures)Technical IndicatorssignalsTrend AnalysisXAUUSD

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