Lost! Gold Fails To Seize The Opportunity To Rise - Kakiforex.com - Financial Market Media No. 1 in the World Lost! Gold Fails To Seize The Opportunity To Rise Lost! Gold Fails To Seize The Opportunity To Rise
InstaForex

June 29, 2021

Lost! Gold Fails To Seize The Opportunity To Rise

 Gold prices eased in the Asian session following the strengthening displayed by the greenback dollar as market focus is now focused on the publication of the US NFP jobs report on Friday.


In the Asian session, spot gold traded lower around $ 1,775 an ounce, not far from the seven -week low it had reached previously.


The US dollar continued to trade stronger helped by rising demand for safe havens following concerns about rising coronavirus outbreaks in some countries, particularly in Asia.



This situation should also be profitable for gold trading. However, fears that the US central bank would tighten its monetary policy sooner than expected caused the precious metal trade to stagnate.


The market is still evaluating mixed signals from Federal Reserve (Fed) policymakers about the right time to raise interest rates and reduce bond purchases.


Gold also failed to capitalize on the opportunity to rise from the decline recorded in treasury yields in the previous session which returned to decline below the 1.50%level.