- Gold price falls sharply to near $3,300 as the US Dollar performs strongly across the board.
- The US Dollar trades firmly ahead of US tariff deadline on July 9.
- Traders pare Fed dovish bets on better-than-projected US NFP data for June.
Gold price (XAU/USD) is down almost 0.8% to near $3,300 during the European trading session on Monday. The yellow metal faces a sharp selling pressure as risk-off market sentiment has increased safe-haven demand of the US Dollar (USD).
Technically, higher US Dollar makes the Gold price an expensive bet for investors. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, revisits the weekly high around 97.45.
- Gold bears tighten their grip as Fed rate hike bets rise
- Euro rallies against a weak British Pound as UK business activity disappoints
- Euro nudges up against British Pound with Eurozone and UK PMIs in focus
- Gold drops to three-day low, eyes $4,300 as hawkish Fed and Iran risks underpin USD
- Euro: Downtrend eyes 1.1400 support against US Dollar.
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