Bengaluru — Gold prices gained on Tuesday, with a weaker dollar and US bond yields providing some support to the precious metal, even as central banks move towards easing economic stimulus.Supporting gold by making it cheaper for buyers in other currencies, the dollar dropped to a two-week low against a basket of currencies.
“Though gold is rangebound, if it holds above $1,760, it could move back to $1,782 and possibly even $1,800,” said Nicholas Frappell, global general manager at ABC Bullion, adding that a break below $1,759 could push it down to $1,737-$1,741. Bank of England governor Andrew Bailey sent a fresh signal on Sunday that the British central bank was gearing up to raise interest rates as inflation risks mount.
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Gold inches up as US bond yields and dollar weakenInvestors figure that while inflation might pull forward the Fed’s rate hikes, other central banks may need to be more aggressive over tightening I wish I contacted earlier LindaStouffes this year I'm sharing this to encourage every beginner and Bitcoin lover to get in touch with her she is very legit and God fearing person LindaStouffes
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Source: BDliveSA - 🏆 12. / 63 Read more »
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