Gold Price Analysis: XAU/USD hits six-week highs despite risk-on/holiday trading conditions By Frank_Macro XAUUSD Gold
afe-haven precious metal is rallying despite risk-on conditions in other asset classes such as stocks and risk-sensitive commodities such as. Despite typical low volumes at this time of year owing to the Christmas/year-end holidays, traders have been aggressively pricing out bearish economic scenarios, with the fast-spreading Omicron Covid-19 variant looking mild, reducing lockdown risk in the US and elsewhere.
In the immediate future, there is very little by way of US data this week that can shift the macro narrative. Next week will be much bigger on that front with the release of the December official jobs report and ISM surveys.
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