Gold & Silver Price Forecast: Bulls Seek Recovery After Channel Breakdown
Market Overview
Gold (XAU/USD) prices rebounded modestly during the early Asian session, climbing above the key $3,300 mark after slipping to weekly lows. However, this recovery faces headwinds from a stronger US dollar, which remains buoyed by unexpectedly robust US economic data.
Durable Goods Orders in April declined by 6.3%—a sharp drop but better than the 7.9% market forecast. The Conference Board’s US Consumer Confidence Index jumped to 98 in May, the highest since early 2021, signaling renewed optimism amid easing global trade tensions.
Gold (XAU/USD) prices rebounded modestly during the early Asian session, climbing above the key $3,300 mark after slipping to weekly lows. However, this recovery faces headwinds from a stronger US dollar, which remains buoyed by unexpectedly robust US economic data.
Durable Goods Orders in April declined by 6.3%—a sharp drop but better than the 7.9% market forecast. The Conference Board’s US Consumer Confidence Index jumped to 98 in May, the highest since early 2021, signaling renewed optimism amid easing global trade tensions.
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Market Overview
Gold (XAU/USD) prices rebounded modestly during the early Asian session, climbing above the key $3,300 mark after slipping to weekly lows. However, this recovery faces headwinds from a stronger US dollar, which remains buoyed by unexpectedly robust US economic data.
Durable Goods Orders in April declined by 6.3%—a sharp drop but better than the 7.9% market forecast. The Conference Board’s US Consumer Confidence Index jumped to 98 in May, the highest since early 2021, signaling renewed optimism amid easing global trade tensions.📱 Scan this QR to open paste
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