Gold drops due to a stronger dollar. 1,751 (-3,452 points )

 Weekly changes: XAUUSD -1.77%

XAUUSD drifted lower to 1.753 last week, with a firmer dollar and U.S bond yields diminishing its appeal, as investors turned their attention to the U.S. Federal Reserve meeting for clues on when it will begin tapering its stimulus.

The Federal Open Market Committee is due to meet between 21 and 22 Septеmber.

BULLISH TRIGGERS

The negative real yields and inflation expectations should support investment demand for gold despite the Fed signaling that tapering and rate hikes are around the corner.

BEARISH TRIGGERS

AUDUSD has been declining throughout the month. The ongoing instability in China, the Australian major trading partner, weighs on the AUD. On the other hand, the latest Australian job report showed the most significant job loss since May 2020. The RBA Minutes, released this week, will explain the impact of the monetary steps of the central bank towards the crisis' overcome.

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