Can Gold Soar Again Today? - Kakiforex | Forex markets for the smart money. Can Gold Soar Again Today? Can Gold Soar Again Today?

April 14, 2021

Can Gold Soar Again Today?

 Gold prices traded steady during the Asian session after slump in U.S. bond yields and a weak U.S. dollar pushed a 0.76% jump to around the $ 1,745 an ounce price level.


The consumer price index (CPI), which is a measure of inflation, recorded the highest increase in 8 and a half years in March of 0.6%.


On an annual basis, the inflation rate beat expectations for an increase of 2.5% by rising by 2.6%, the highest increase since August 2018.



The depreciation of the greenback dollar in the previous session indicated that investors did not assume this high inflation reading would prompt the Fed to tighten its policy.


Meanwhile, the 30 -year bond auction that took place yesterday showed high demand, causing bond yields to drop to around 1.62%.


Meanwhile, new market concerns about the delay of Johnson & Johnson's Covid-19 vaccine also supported sentiment on gold prices.


The U.S. Food and Drug Administration (FDA) and the Centers for Disease Control (CDC) announced Tuesday that they will stop using the vaccine after six recipients developed blood clotting problems after receiving the injections.