Gold slips as China’s stimulus efforts fail to ease deflationary pressures.
Minneapolis Fed President Kashkari’s comments on modest rate cuts and a strong labor market further support the Greenback.
Geopolitical tensions, including Israel’s response to Hezbollah and Iran, continue to influence Bullion prices, with traders eyeing US economic data later this week.
Gold price retraces after hitting a daily high of $2,666 on Monday as China’s stimulus failed to provide relief to the financial markets and the Greenback extended its advance. The XAU/USD trades at $2,650, down some 0.26% at the time of writing.
Over the weekend, data revealed that China’s economy faces deflationary pressure that threatens to derail it from achieving the 5% Gross
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