DXY stabilized around 106.5
Gold prices (XAU/USD) regained some of last week's gains and hovered around $1,975 during Asian trading on Monday. The bullish outlook for precious metals is supported by flows into safe-haven assets amid rising geopolitical tensions in the Middle East. Meanwhile, the US dollar index (DXY), which measures the value of the US dollar against six other major currencies, remained stable at around 106.15.
Federal Reserve Chairman Jerome Powell has indicated that he would like to pause interest rate hikes in the coming months and monitor developments in economic indicators. Powell added. He explained that tighter monetary policy could become appropriate if there are further signs of above-trend growth or if labor market easing ends. The better-than-expected data could boost the US dollar (USD) and put pressure on USD-denominated gold.
On the other hand, rising tensions in the Middle East could cause prices for safe-haven assets such as gold to rise. But on Sunday, concerns grew that the conflict between Israel and Hamas could escalate into larger-scale fighting in the Middle East, with the US government warning of grave risks to its interests. America in this region
Federal Reserve Chairman Jerome Powell has indicated that he would like to pause interest rate hikes in the coming months and monitor developments in economic indicators. Powell added. He explained that tighter monetary policy could become appropriate if there are further signs of above-trend growth or if labor market easing ends. The better-than-expected data could boost the US dollar (USD) and put pressure on USD-denominated gold.
On the other hand, rising tensions in the Middle East could cause prices for safe-haven assets such as gold to rise. But on Sunday, concerns grew that the conflict between Israel and Hamas could escalate into larger-scale fighting in the Middle East, with the US government warning of grave risks to its interests. America in this region
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