Gold Price hovers above $1,780, its highest since mid-August.
Despite a weaker US Dollar, Gold maintains stability at its highest level since mid-August. The dollar is affected by bets on the Federal Reserve raising rates less aggressively. The USD is further devalued by falling US bond rates, which is advantageous for commodities. Any additional advances for the XAUUSD seem to be limited by a resurgence in risk sentiment.
On Wednesday, there is some dip-buying at $1,770, and Gold gradually moves back toward the peak it reached the previous day—the highest point since mid-August. Throughout the early North American session, the XAUUSD maintains its position above $1,780, although a minor improvement in risk sentiment prevents any further advances.
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