Despite the 'Slow' Market, Gold Is Still Strong!

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 The yellow metal traded little changed around one-week highs, as markets awaited new catalysts for the next direction.


In the Asian session, spot gold moved flat at $1,818 per ounce, while gold futures traded at $1,827 per ounce.


The strength exhibited in gold trading is still supported by the weak US dollar after being affected by the change in bond market policy by the Bank of Japan (BOJ) at the beginning of the week.



Investors are now focused on the release of the final reading of US gross domestic product (GDP) for the third quarter and jobless claims in the upcoming New York session.


The US economy is expected to grow better with growth of 2.9% in the third quarter, in line with the preliminary reading recorded earlier.


At the same time, gold investors remain wary of the stance of the Federal Reserve (Fed) which is seen as still hawkish to continue raising interest rates next year.

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