Gold price retreats from three-month highs of $2,088 early Monday.US Dollar finds its feet alongside the Treasury bond yields after Friday’s sell-off.Gold price eyes $2,115 in the run-up to a big week, as RSI eases off the overbought territory.
Gold price is taking a breather after testing the three-month high at $2,088 in early Asian hours on Monday. The US Dollar is looking to find its feet alongside the US Treasury bond yields, as markets resort to repositioning ahead of the high-impact economic events from the United States this week.
In the week ahead, all eyes will be on the US Federal Reserve (Fed) Chairman Jerome Powell’s two-day testimony on the semi-annual Monetary Policy Report (MPR) before Congress. Further, the US labor market report will also keep markets in high anticipation, especially after the previous week’s disappointing economic data, which reinforced bets for a Fed policy pivot.
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