Market Watch: Economic Events and Factors Affecting Gold on March 2, 2023
As the European session opens on a lackluster Thursday, the gold price (XAU/USD) hovers around its intraday low of $1,831.
Arslan Butt•Thursday, March 2, 2023•2 min read
The rise in US Treasury bond yields, which has recently tested the bulls on Wall Street and weighed on S&P 500 futures, is the market’s response to concerns about the hawkish stance of the Fed and the friction between the US and China. Encouraging data from the US ISM Manufacturing PMI for February and articles from the New York Times (NYT) imply the possible tension between the US and China.
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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.
His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.
His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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