XOF/USD Price & Performance (XOFUSD)

Gold prices, after hitting a record high of $3,004 per troy ounce, have retreated to $2,982. Factors such as geopolitical tensions and concerns over U.S. trade policies are influencing the market. Additionally, the People’s Bank of China continues to increase its gold reserves, signaling sustained demand for the precious metal.12

The AUD/USD pair marked its fifth weekly gain in six, closing at 0.6326. Despite U.S. tariffs on Australian exports, positive developments around global risk sentiment and local employment data have supported the currency. Traders now anticipate central bank meetings and further economic indicators this week.34

The U.S. Dollar Index continues to face downward pressure, partly due to weaker-than-expected consumer sentiment data. Inflation concerns and uncertainty surrounding U.S. trade policies are also weighing on the dollar. Market participants are now closely watching upcoming Federal Reserve decisions and economic indicators.15