💡Gold: Rises in Asian Session on Technical Correction
Updated
During the early Asian session, gold experienced an increase, signaling a probable technical upward correction following a 1.15% decline in the front-month Comex gold for January delivery on Wednesday. According to Daniel Ghali, senior commodity strategist at TD Securities, robust buying activity in China is bolstering gold prices. In a recent research report, Ghali highlights that the top ten traders on the Shanghai Futures Exchange have augmented their net long positions by nearly 10 tons since the New Year holidays. Currently, spot gold is showing a 0.1% rise, reaching $2,008.75 per ounce.
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