The price of gold got support from risky sentiment in the market to trade slightly higher in today’s trading session.
U.S. 10 -year bond yields fell as low as 1.62%, from a more than a year high it reached late last week, and this was also among the factors driving up gold prices.
Risky sentiment continues to adorn the market following investor concerns over the third wave of the coronavirus pandemic and the slowdown in vaccination measures in Europe and this has provided support to safe-haven assets.
Moreover, the latest report on North Korea having launched two ballistic missiles towards the Sea of Japan today, also added to the risks in the market.
The move is believed to have been taken by North Korean leader Kim Jong Un to test the new U.S. administration.
However, the recorded rise in gold prices was seen to be limited due to strong greenback dollar trading.
This caused the price of gold to continue to move around the same price level since the beginning of the week at $ 1,735 per ounce at the opening of the European trading session.
