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June 29 (AP) -- Pakistani officials said security forces conducted an intelligence-based ground operation along the Pakistan-Afghanistan border on Sunday, followed by "precision strikes" on militant hideouts and shelters, killing 29 militants. Pakistani Information Minister Attra Talal said the operation was in response to multiple militant attacks across the country. The previous day, militants armed with guns and explosives attacked the regional headquarters of the paramilitary group Rangers in the southern port city of Karachi, killing three soldiers. Security forces killed three attackers and arrested another, identified by the military as a wounded Afghan national. The Pakistani Talibans separatist faction, the Free Peoples Party, claimed responsibility for the Karachi attack in a statement released Saturday evening.According to Axios: US officials revealed that the US and Iran have agreed to cease attacks and will meet this week.According to the Associated Press, Pakistan claims that it conducted ground operations and strikes in the Afghan border region, resulting in the deaths of 29 militants.The Israeli Prime Ministers Office stated that the destroyed underground tunnels contained hundreds of weapons and several rocket launcher platforms.On June 29, an Iranian official stated that Iran did not participate in the technical talks scheduled for that day due to "recent attacks and failure to meet relevant conditions." Separately, according to US sources that day, the planned resumption of US-Iran technical talks in Switzerland this week has stalled due to renewed conflict between the two countries.

Gold Price Prediction: XAU / USD falls toward $1,793 support convergence as US Dollar yields rise

Alina Haynes

Feb 27, 2023 14:22

Gold price (XAU/USD) accepts offers to rise from a two-month low to around $1,808 on Monday morning. In doing so, the precious metal justifies the most recent uptick in the US Dollar, following a week-long decline, amid hawkish concerns surrounding the US Federal Reserve (Fed) and geopolitical concerns.

 

That said, the US Dollar Index (DXY) renewed its intraday high around 105.30, following the initial pullback from a seven-week high. In doing so, the dollar index against the six major currencies has strengthened for the fifth consecutive day.

 

The DXY's recovery from the intraday low can be attributed to the firmer US Treasury bond yields, as the US 10-year Treasury yields reverse the early-day declines of approximately 3.95 basis points. In addition, the two-year counterparts return to their greatest levels since November 2022, as bond bears approach the 4.83% level as of press time.

 

Fears of an Australian recession, decreased consumption in New Zealand, and a soft landing in the United States have contributed to the recent weakness of the XAU / USD. Concerns about a hawkish Federal Reserve could contribute to the precious metal's decline, particularly in light of last week's strong inflation indicators and policymakers' optimistic comments. It should be noted that the most recent rumors regarding additional Western sanctions against Russia and Beijing-Moscow relations also favor the Gold Bears.

 

It’s worth noting, however, that the S&P 500 Futures lick its wounds with mild gains after the Wall Street benchmark posted the biggest weekly slump of 2023.

 

A stronger US dollar and geopolitical worries keep the Gold price on the bears' radar. In the absence of top-tier data, the XAU / USD may be able to recover some of its losses. Traders must therefore keep an eye on the US ISM Manufacturing PMI, Services PMI, Durable Goods Orders, and China's official PMIs this week for unambiguous direction.


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