Key Points
COMEX Gold prices started the week on a negative note as mixed data from the US coupled with weak economic data from the European peers bolstered the greenback...
Dollar index started easing on Tuesday amid Chinese optimism and ahead of the FOMC meeting, which led to a recovery in gold prices during the first half of the week...
The yield on the US 10-year Treasury note eased toward the 3.85% level, while the dollar index slipped towards 101 levels, as Fed chair Jerome Powells comments were perceived as leaning more towards the dovish side...
The US Fed Chair Powell insisted that the central bank would take a data-dependent approach going forward when determining additional hikes and clarified that no decision to raise borrowing costs further has been made...
The major reversal in gold prices came on Thursday, after a slew of economic data from the US came on the upside, while slightly dovish ECB policy outcome boosted the dollar index and treasury yields...
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