Gold prices rebounded above the $ 1,800 per ounce price level after declining lower at the end of last week’s trading, pushed down by strong U.S. bond yields and the U.S. dollar.
During the Asian session, gold prices traded higher at $ 1,805 an ounce, up from a more than a week -long low, at $ 1,789 recorded on Friday. Gold futures were positive at $ 1,806.
Overall, the price of gold is still moving around the same price level despite significant volatility movements in the past week.
The market now expects more aggressive movements to be exhibited in gold prices ahead of this week’s FOMC policy meeting which is expected to give an indication of a reduction in its asset purchases.
In the meantime, investors will also see inflation data from the United States, Europe, Canada and Australia that will influence the movement of gold prices.
Also this week, the International Monetary Fund (IMF) will also release an update on the outlook for the world economy, and the focus will be targeted at growth in some countries threatened by the Delta variant.
