Gold price rises to six-month high on China reopening optimism. gold markets
Meanwhile, the US dollar index edged lower, and benchmark 10-year yields held close to their highest in over a month.
Bullion has gained nearly $200 after falling to a more than two-year low in late September, as expectations about slower interest rate hikes from the Fed dimmed the dollar’s allure and reduced the opportunity cost of holding gold. “The gold futures bulls have the overall near-term technical advantage. Prices are in a seven-week-old uptrend on the daily bar chart,” with the first resistance at $1,825 an ounce, said Jim Wyckoff, senior analyst at Kitco Metals,
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD stays firmer on easing hawkish Federal Reserve bets, optimism surrounding ChinaGold Price Forecast: XAU/USD stays firmer on easing hawkish Federal Reserve bets, optimism surrounding China – by anilpanchal7 Gold SEO Coronavirus China Fed
Read more »
Rescue work continues after gold mine collapse in ChinaRescue work continues after 18 people were trapped underground as a gold mine in northwest China’s Xinjiang Uygur Autonomous Region collapsed on Saturday.
Read more »
Mainland China reports no new COVID deaths for Dec 25 -China CDCChina reported no new COVID-19 deaths in mainland for Dec. 25, the same a day earlier, the Chinese Center for Disease Control and Prevention said on Monday.
Read more »
Gold Price Forecast: XAU/USD gives up and returns to the $1,810 price zoneXAU/USD jumped to a fresh three-week high of $1,833.32 a troy ounce following Wall Street’s opening amid a better market mood maintaining market playe
Read more »
Gold Price Forecast: XAU/USD jumps to fresh multi-month highs above $1,830After dropping toward $1,800 in the early American session on Tuesday, Gold price gathered bullish momentum and rose above $1,830 for the first time s
Read more »