Surprising dovish comments from US Federal Reserve officials hit the US Dollar.US Treasury bond yields extend their slide to fresh multi-week lows.XAU/USD soared on broad US Dollar weakness could extend the rally towards $2,075.
Gold prices extended gains on Tuesday, with XAU/USD trading as high as $2,038.45 after Wall Street's opening, currently holding nearby. The US Dollar has remained under selling pressure since the day started, accelerating its slump following comments from Federal Reserve (Fed) Governor Christopher Waller, delivering some dovish words.
The XAU/USD pair maintains the upward pressure and could reach higher highs in the near term. The daily chart shows that technical indicators aim firmly north within positive levels, with the Relative Strength Index (RSI) indicator already within overbought levels.
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