May Dollar rises with Prelim GDP?

23 февр. 2023 г.

Hello traders out there. I was looking at XAUUSD and spotted that the market is waiting for a decisional direction. In broad terms, an increase in real GDP is interpreted as a sign that the economy is doing well. It hasn’t been a good month for gold and the latest Fed minutes didn’t even try to make it better. Gold prices extended their decline yesterday and Thursday morning, hovering near a seven-week low around $1.825 per troy ounce. Total loss for February hit 5.5%. I expect the DXY to gain some streght.