Sell XAUUSD Rising Wedge

XAU/USD - H1 Chart

Factors affecting Gold : XAUUSD

1. Monetary policy dynamics should favor Dollar strength in this Month.

2. A crucial fundamental factor putting pressure on gold is the rise in government bond yields in developed countries with falling inflation. It is becoming increasingly difficult for gold to compete on yield.

3. Prospects for gold are soft for both the hawkish and dovish Fed expectations. The hawkish Fed expectations boost the dollar and the US yields and weigh on gold appetite.

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