Stairs to the Top Arranged Beautifully, Gold Is More ‘Bullish’! - Kakiforex.com - Financial Market Media No. 1 in the World Stairs to the Top Arranged Beautifully, Gold Is More ‘Bullish’! Stairs to the Top Arranged Beautifully, Gold Is More ‘Bullish’!

May 24, 2021

Stairs to the Top Arranged Beautifully, Gold Is More ‘Bullish’!

 The start of trading earlier in the week saw the precious metal gold trade around four -month highs following the US dollar and weak US bond yields.


Although the US dollar rose, the yellow metal trade still gained support to continue to trade stronger.


The US dollar rose after a number of Federal Reserve (Fed) policymakers issued statements about their readiness to discuss tapering in quantitative easing.



However, because Fed Chairman Jerome Powell has repeatedly warned that it is not yet time to discuss easing, leading most investors to believe that the central bank will take much longer to completely change its policy.


In the Asian session, gold traded higher hovering around $ 1,883 an ounce, not far from the high it reached last week, at $ 1,890. Gold futures traded around $ 1,884 an ounce.


10 -year US bond yields continued to show a slow movement around the same level at 1.62%, giving gold prices a chance to further strengthen their position.