Gold decreased slightly as US government bond yields
Updated
The USD recovery caused gold to fall slightly as US government bond yields and the USD recovered, but it is expected to maintain its upward momentum thanks to the current dovish stance of the market.
During the December 28 session, world gold prices dropped to around $2,065 from $2,088 at the beginning of today's Asian session when US government bond yields and the USD recovered slightly. However, the current upward momentum of precious metals is expected to remain intact as investors expect the Fed to reduce interest rates and inflation is on a steady decline.
Going forward, the December jobs report and manufacturing PMI data will be the focus of the market, though these indicators are unlikely to change Gold's current upward momentum as traders prepare Entering the New Year holiday. Currently, gold is increasing slightly to $2,070.
During the December 28 session, world gold prices dropped to around $2,065 from $2,088 at the beginning of today's Asian session when US government bond yields and the USD recovered slightly. However, the current upward momentum of precious metals is expected to remain intact as investors expect the Fed to reduce interest rates and inflation is on a steady decline.
Going forward, the December jobs report and manufacturing PMI data will be the focus of the market, though these indicators are unlikely to change Gold's current upward momentum as traders prepare Entering the New Year holiday. Currently, gold is increasing slightly to $2,070.
Comment
SELL XAU 2075TP1: 2065
TP2: 2055
SL: 2087
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HIT TP 1 + 100 PIPSComment
running + 130 pips
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