Gold price is building on Friday’s rebound, briefly recapturing the $1,850 barrier early Monday. Escalating geopolitical tensions in the Middle East a
Gold price cheers risk-aversion on Middle East violence, briefly regains $1,850. The US Dollar rebound limits the Gold price advance while US Treasury bond yields drop. Gold price eyes a sustained rebound and critical US Nonfarm Payrolls data. re spooking markets, as they seek safety in traditional safe havens such as Gold price, the US Dollar, Treasuries etc.
However, further upside in Gold price appears elusive, as the US Dollar also gains upside traction on increased safe-haven demand. Meanwhile, a holiday in Japan is also helping exaggerate the moves in Gold price, as investors now look forward to the Middle East developments, Oil price movements and the upcoming US inflation data for fresh trading impetus. At the time of writing, Gold price is adding 0.
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