Gold Keeps Shining, Does Anyone Know Why?

thecekodok

 Gold continued to hold on to gains to trade higher on Tuesday amid a weaker US dollar.


The Asian market session saw the yellow metal trade at around $1,673 an ounce, not far from the $1,680 high it reached late last week.


Looking at current movements in the gold market, the yellow metal continues to benefit from the weakness of the greenback.



Market players are now betting on a 50 basis point hike from the Federal Reserve (Fed) at its policy meeting in December.


This is a string of dismal US NFP jobs data as the unemployment rate has started to show an increase in October.


However, investors will first look to consumer inflation data, which will be published on Thursday.


If price pressures continue to rise, investors will change their expectations for the Fed's next tightening measures.

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