Free Forex Signals

• 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 holds gains above 1.1550 following Eurozone GDP and bright Trade Balance data
• Euro gains as receding Fed hike bets weigh on USD; geopolitical risks cap upside
• EUR/JPY Price Forecast: Holds ground near 184.00, 50-day EMA
• GBP/USD Forecast and News
• Gold outlook: Bulls take a breather under new multi-week high ahead of US economic data