December 27, 2021

The Glitter of Gold Continues to Illuminate the Gloomy Market!

 Gold prices continued to maintain their strengthening momentum amid slow market movements at the opening of trading earlier in the week.


In the Asian session, the precious metal strengthened around $ 1,810 per ounce although at the beginning of trading it declined slightly. Gold futures traded positive at $ 1,812 an ounce.


The strengthening was supported by 10 -year U.S. treasury yields declining from a one -week high reached on Friday, thus reducing the opportunity cost of getting gold.



In addition, the gloomy greenback dollar trading at a nearly one -week low against other major currencies also shed light on gold trading.


The movement of gold is expected to remain stable above the $ 1,800 per ounce price level as not many factors, especially economic data will affect the trading of the yellow metal.


However, due to the high price volatility factor in the market driven by low liquidity will make the market risky. This makes investors more wary of placing positions ahead of the end of 2021 trading.