Gold Price Outlook: Bulls To Take Charge? U.S. Services PMI Ahead

Dean Popplewell profile picture
Dean Popplewell
3.28K Followers
(5min)

Summary

  • Gold prices were volatile on Monday, swinging between 2650 and 2614, ultimately settling at 2635, driven by fluctuations in the US Dollar and tariff news.
  • US Services PMI data will be a key focus, as a positive figure could boost the US dollar and weigh on gold prices.
  • Technically, gold appears poised for another leg higher, but overarching fundamentals may keep gains in check.

Stacks of gold bars forming an oval shape

J Studios

By Zain Vawda

Gold prices experienced significant volatility on Monday, kicking off the week with significant price swings. The metal reached a high of around 2650 during the day, dipped to a low of approximately 2614, and eventually settled for the

This article was written by

Dean Popplewell profile picture
3.28K Followers
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.

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