The appeal of non-yielding metal diminished by some hawkish remarks made by US Fed Reserve officials on Monday. And gold prices declined as a result as markets sought more clarity about the US debt ceiling talks.
The market appears to believe that a financial catastrophe can be avoided despite concerns that an agreement on the debt ceiling won’t be completed by June 1. Ashish emphasised that the dollar.
According to DailyFX expert Warren Venketas. “A every day close above trends opposition could align with borrowing ceiling positivity, permitting the dovish Federal rhetoric to filter by & support gold prices.”