The early start of the week saw the gold yellow metal trade positive as the US dollar moved weaker amid the close of the US stock and bond markets in conjunction with the Juneteenth National Independence Day holiday.
During the Asian session, gold prices were slightly higher at around $ 1,845 per ounce, while gold futures were positive at $ 1,847 per ounce.
The king of the US dollar posted a decline after closing higher last Friday, thus increasing the attractiveness for holders of other currencies to get gold.
Gold surprised the market last week with its resilience after a 75 basis point rise from the Federal Reserve (Fed) that has caused large volatility movements in most financial markets.
Even so, analysts don’t see a big increase in gold movement in the short term as well as don’t rule out that it will return to $ 1,800 per ounce.
The US central bank continues to reiterate their commitment to fight inflation despite the risk of a recession.
