elementec

May Dollar rises with Prelim GDP?

Short
FX:XAUUSD   Gold Spot / U.S. Dollar
Hello traders out there. I was looking at XAUUSD and spotted that the market is waiting for a decisional direction. In broad terms, an increase in real GDP is interpreted as a sign that the economy is doing well. It hasn’t been a good month for gold and the latest Fed minutes didn’t even try to make it better. Gold prices extended their decline yesterday and Thursday morning, hovering near a seven-week low around $1.825 per troy ounce. Total loss for February hit 5.5%. I expect the DXY to gain some streght.

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