The XAUUSD Price is slowly recovering, fighting to recover the $2,000 level. Gold plunged to $1,975.67 a troy ounce ahead of the US opening, following news that Kyiv was ready for a diplomatic solution to the conflict with Moscow. Moreover, Russian President Vladimir Putin and Germany’s Chancellor Olaf Scholz discussed diplomatic options in a phone call. Hopes that the conflict may end in the near term have boosted high-yielding assets, to the detriment of those considered safe-haven such as gold and the dollar. The latter seems to be suffering the most at the time being, which helps to keep the first afloat.
Meanwhile, US indexes hold on to substantial gains, barely retreating from intraday lows. XAUUSD is currently hovering around the 23.6% retracement of its January/March rally and would need to clear the current area to be able to extend gains in the near-term, initially towards $2,025.
Looking forward for today, the monthly US Consumer Price Index figures and US Unemployment Claims are planned to be released giving to the pair another push.
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