GOLD continues to be fierce after soaring high - Kakiforex.com - Financial Market Media No. 1 in the World GOLD continues to be fierce after soaring high GOLD continues to be fierce after soaring high
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May 11, 2021

GOLD continues to be fierce after soaring high

 Permanent gold was trading steady on Tuesday, buoyed by the fall in the US dollar index which has continued to weaken around the level of a 2 and a half month low against its main competitors.


Although the US dollar increased slightly towards the end of the New York session due to the depreciation in the US stock market, however, the support factors were unable to push it higher.


The price of gold is also still maintaining its position to trade higher, although the yield on the US 10-year treasury increased from the original two-month low it reached last Friday.



In the Asian session, the precious metal is expected to loosen around the face of a three-month high at $ 1,835 an anun, while trading against gold is also trading at $ 1,836 an anun.


Gold has posted the biggest weekly gain since November last week after the NFP report showed a slowdown in US job growth presented a much weaker reading than the market expected.


Markets are now looking to release US inflation data on Wednesday, which is forecast to show continued price increases in April.