Hello everyone, as we all know the market action discounts everything :)
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Gold futures had down 0.15 percent to $1,803.15 per ounce . The dollar, which generally swings in the opposite direction of gold, fell slightly on Thursday, as benchmark 10-year U.S. Treasury yields remained near a one-month high.
The yellow metal has dropped over 5% so far in 2021, and it is anticipated to have its worst yearly decline since 2015. However, investors anticipate that gold trade will remain thin and range-bound for the rest of the year.
Despite an increase in omicron COVID-19 variant instances, Asia Pacific stocks were generally higher on Thursday. Investors are also keeping a close eye on central banks' removal of monetary assistance.
The current COVID-19 epidemic in the western city of Xi'an is still ongoing in China, and the country will release its manufacturing and non-manufacturing purchasing managers indices (PMI) on Friday.
In Asia Pacific, statistics released earlier in the day indicated that South Korean industrial production increased 5.9 percent year on year in November, which was higher than predicted. However, the statistics also revealed that retail sales fell by a greater-than-expected 1.9 percent month on month.
Silver and platinum fell 0.1 % in other precious metals.
This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice.
If you have any questions please ask and have a great day !!
Thank you for reading.
_________________________________Make sure to Like and Follow if you like the idea_________________________________
Gold futures had down 0.15 percent to $1,803.15 per ounce . The dollar, which generally swings in the opposite direction of gold, fell slightly on Thursday, as benchmark 10-year U.S. Treasury yields remained near a one-month high.
The yellow metal has dropped over 5% so far in 2021, and it is anticipated to have its worst yearly decline since 2015. However, investors anticipate that gold trade will remain thin and range-bound for the rest of the year.
Despite an increase in omicron COVID-19 variant instances, Asia Pacific stocks were generally higher on Thursday. Investors are also keeping a close eye on central banks' removal of monetary assistance.
The current COVID-19 epidemic in the western city of Xi'an is still ongoing in China, and the country will release its manufacturing and non-manufacturing purchasing managers indices (PMI) on Friday.
In Asia Pacific, statistics released earlier in the day indicated that South Korean industrial production increased 5.9 percent year on year in November, which was higher than predicted. However, the statistics also revealed that retail sales fell by a greater-than-expected 1.9 percent month on month.
Silver and platinum fell 0.1 % in other precious metals.
This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice.
If you have any questions please ask and have a great day !!
Thank you for reading.