Can Gold Maintain a Consolidation Above $ 1,800?

thecekodok

 Gold maintained gains to trade above $ 1,800 an ounce amid declining U.S. bond yields and market concerns over rising inflationary pressures.


In the Asian session, the precious metal traded slightly lower at $ 1,803 an ounce, not far from the one -month high it reached last Friday. Meanwhile, futures hovered at $ 1,805 an ounce.


The 10 -year US treasury yield fell slightly to 1.63%. However, the rise in the dollar index limited trading in the yellow gold metal from continuing to increase.



Market sentiment is now seen to be more cautious ahead of the policy meetings of several major central banks this week, such as the European Central Bank, Canada and Japan.


While no change is expected from the central bank, any statement on inflationary pressures is likely to affect the movement for gold trading.


Rising inflationary pressures in recent weeks have pushed gold prices higher, but at the same time the re -tightening of monetary stimulus by the central bank has resulted in limited profits made by gold.

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