News affects gold prices

Looking ahead, if risk-aversion intensifies, the US Dollar uptrend could see a fresh leg higher, exacerbating the pain in the USD-denominated Gold price. However, all eyes remain on the US Q2 GDP revision, Jobless Claims and Pending Home Sales for a fresh directive. Markets will also eagerly await a speech by US Federal Reserve (Fed) Chairman Jerome Powell due later in the NA session at 20:00 GMT for any hints on the central bank’s interest rate policy. Several other Fed policymakers are also scheduled to take the rostrum and impact the US Dollar valuation, eventually influencing the Gold price action.

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