Gold Gains as Dollar Pushes Lower Ahead of Key US Economic Data
Gold's selloff accelerated as traders bet on signs that the rally may have run too hard and too fast.
Photographer: Brendon Thorne/BloombergThis article is for subscribers only.
Gold advanced as the dollar and bond yields pushed lower, with traders awaiting a slew of key economic data this week that could shed some light on the impact of President Donald Trump’s trade war.
Data on jobs, inflation and economic growth are slated to hit from Wednesday to Friday. On Monday, a widely followed measure of Texas manufacturing activity weakened significantly as executives used words like “chaos” and “insanity” to describe the turmoil spurred by President Donald Trump’s tariffs, according to a report by the Federal Reserve Bank of Dallas.