How does gold price change on weekends? What should you note?
Brian, hello everyone!
Last week, we witnessed a significant decline in gold prices. At one point, gold dropped to a low of $1812. Currently, gold is trading around $1832, stabilizing for the week.
It is evident that bond yields are at their highest level in 16 years. However, the weakening of the US dollar has alleviated some pressure on gold.
Next week, the market will receive the Consumer Price Index (CPI) data from the US, which is expected to be positive news for gold prices and could help them recover. The selling pressure seems to be diminishing as we have seen little to no further decline in gold over the past three trading days.
Last week, we witnessed a significant decline in gold prices. At one point, gold dropped to a low of $1812. Currently, gold is trading around $1832, stabilizing for the week.
It is evident that bond yields are at their highest level in 16 years. However, the weakening of the US dollar has alleviated some pressure on gold.
Next week, the market will receive the Consumer Price Index (CPI) data from the US, which is expected to be positive news for gold prices and could help them recover. The selling pressure seems to be diminishing as we have seen little to no further decline in gold over the past three trading days.
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good luck
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Please leave your comments and questions! Brian was happy to answer and help !
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Gold price is briefly coming up for fresh air, as the United States Dollar (USD) has entered a phase of consolidation after two straight days of downside correction from an 11-month top.
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Although bond yields are likely to move higher, with many analysts expecting the 10-year note to reach 5%, some say the peak is in sight.
