The price of gold (XAU/USD) has retreated after a brief rally, now nearing two-month lows, influenced by the strengthening of the US Dollar (USD). This development is part of a broader bearish trend that the gold market has been experiencing recently. Investors are particularly attentive to the upcoming release of the minutes from the latest Federal Reserve meeting.
USD's impact on gold
The US Dollar has strengthened across the board, which often results in a lower gold price since gold is priced in USD. When the dollar strengthens, gold becomes more expensive for holders of other currencies, which can reduce demand.
Automated trading and the gold market
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