fxstreet.com 10 Feb, 2021 08:00 am

XAU/USD looks ready for a big upside break

XAU/USD looks ready for a big upside break
Expectations of a $1.9 trillion stimulus package likely to be passed in the US Congress keep the reflation trades alive and kicking, fuelling gold’s (

Key quotes “Gold prices could likely benefit if the Treasury yields resume the recent declines amid uncertainty over the strength of the US economic recovery.”“Gold prices could likely benefit if the Treasury yields resume the recent declines amid uncertainty over the strength of the US economic recovery.US inflation and Fed Chair Powell's speech are awaited.Fed inflation averaging policy has obviated market interest.

p US Dollar Index drops further below key support to refresh monthly low US dollar index (DXY) remains depressed around 90.The US CPI data and the Fed Chairman Jerome Powell’s take on the economy will be critical to the next direction in the metal.

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