From Investing.com: 2025-05-28 03:24:00

Gold prices dropped by 1.24% following positive U.S. consumer confidence data, indicating renewed optimism in the economy. President Trump’s decision to delay tariffs on EU imports also boosted market sentiment. Analysts predict a range-bound movement for XAU/USD, with key levels at $3,285 support and $3,320 resistance.

The euro lost 0.52% as U.S. consumer confidence data exceeded expectations, strengthening investor appetite for dollar-denominated assets. Trump’s tariff delay on EU imports eased trade concerns, impacting the euro’s value. EUR/USD remained steady ahead of the U.S. FOMC Meeting Minutes release.

The Australian dollar fell to around 0.64300 despite CPI data slightly beating expectations. The RBA’s dovish monetary stance, recent rate cut, and signals of further easing due to global headwinds led to the decline. Markets anticipate another rate cut in July and USD strength further reduced demand for the Aussie. Watch for the FOMC Meeting Minutes release for potential market impact.



Read more at Investing.com: Gold Under Pressure After Strong U.S. Consumer Sentiment Data