XAU rebounded after the FED pivoted its policy
Gold had a strong sell-off after current US President Joe Biden announced his withdrawal from the race for the White House.
The pressure to sell gold increased after this commodity increased previously and investors took advantage of taking profits in the context that they wanted to listen to more impact assessments of the rapid changes in world politics.
The decline of many stock markets also caused gold to be sold to compensate for stock purchase contracts. However, bottom-fishing demand quickly increased again for gold. Mr. Biden's abandonment of his bid to run for re-election as US President has paved the way for another Democrat, most likely Ms. Kamala Harris.
The pressure to sell gold increased after this commodity increased previously and investors took advantage of taking profits in the context that they wanted to listen to more impact assessments of the rapid changes in world politics.
The decline of many stock markets also caused gold to be sold to compensate for stock purchase contracts. However, bottom-fishing demand quickly increased again for gold. Mr. Biden's abandonment of his bid to run for re-election as US President has paved the way for another Democrat, most likely Ms. Kamala Harris.
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