Gold Price Forecast: XAU/USD stays defensive above $1,700, US ISM Services PMI, full markets eyed – by anilpanchal7 Gold XAUUSD RiskAppetite Recession Fed
European energy crisis, US-China tussles weigh on sentiment but US holiday restricts market moves.US ISM Services PMI for August, US traders’ reaction to latest developments awaited.price remains sidelined around $1,710, defensive after a softer start to the week, as traders await the key US data, as well as the return of the full markets on Tuesday.
Further, the US readiness to sell arms to Taiwan and Taipei’s no-visa entry for some of its friendly country residents, including the US, teased Beijing to utter harsh words for the US-Taiwan ties and increases the tussles. In addition to the triangle area between $1,709 and $1,715, the 50-HMA and the 200-HMA also restrict short-term XAU/USD moves around $1,707 and $1,727 in that order.
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