fundamental News - XAUUSD
Gold (XAU/USD) has regained the bids above $1950 on Wednesday, having settled Tuesday a tad lower at $1954. The bright metal witnessed good two-way price swings a day before, mainly driven by the US dollar dynamics and global market sentiment, in absence of any significant US macro . Gold rose to two-week highs of $1972 in the first half of the day, helped by notable US dollar supply. Upbeat Chinese activity numbers lifted the market mood and downed the dollar. However, in the American trading, gold tumbled over $20 as the greenback staged a comeback amid resurgent haven demand on worries over the US fiscal deadlock and a ballooning deficit. Further, the tech rally-driven gains on Wall Street indices also dampened the sentiment around gold.