Sluggish, Gold Doesn't Move!

thecekodok

 Gold traded flat on Tuesday tracking the movement displayed in US dollar trading after the stock and bond markets reopened following a long weekend.


In the Asian session, the precious metal traded hovering around $ 1,810 an ounce, not much changed from trading earlier in the week.


The movement of the greenback dollar, meanwhile, remained limited, reflecting investor vigilance ahead of the release of the minutes of the FOMC meeting on Thursday and the US NFP jobs data on Friday.



The FOMC minutes will provide a detailed look behind the recent announcement of an interest rate hike by the Federal Reserve (Fed) which has raised it by 75 basis points to fight inflation.


NFP employment data, meanwhile, will give an indication of the state of health of the U.S. economy as the risk of a recession tightens.


Meanwhile, 10 -year US bond yields were stronger, limiting trading in the yellow gold metal to move higher.


Global stocks also returned green amid improving market sentiment, prompting investors to shift away from safe-haven assets.

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