- 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.
- Euro: Positioning turns net short.
- Gold consolidates above $4,150 as softer USD lends support ahead of US CPI report
- Gold struggles to reclaim $4,200 as Fed interest rate hike risks persist, US CPI looms
- Euro remains depressed against British Pound as France and Oil weighs
- Gold struggles below $4,200 amid stronger US Dollar, US CPI in focus
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