weakened as US Treasury bond yields continued their downward trajectory, while Gold rallied on safe-haven flows. The XAU/USD is trading at $2039.10 after reaching a low of $2,013.90.The US Bureau of Labor Statistics revealed that the March plunged 0.5% MoM, below estimates of 0%. The so-called core PPI, which excludes volatile items, dropped 0.1% MoM, beneath the 0.3% foresaw by the consensus. When compared year-over-year, the PPI was 2.
After cracking the previous YTD high at $2,032.13, the XAU/USD dipped before posing another challenge to reach a new YTD high. That happened six days after, with thehitting a new YTD high, shy of the $2,050 psychological level. For a bullish resumption, the XAU/USD needs to crack $2,050, so it can challenge the all-time high at $2,075.14 before aiming toward $2,100. On the other hand, if XAU/USD drops back toward $2,000, that would pave the way for a break below the latter.
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