'Slow-Slow' Gold Rises, Where Are You Going?

thecekodok

 The yellow metal traded stronger at the start of the week, supported by a weaker US dollar and US 10-year bond yields.


In the Asian session, gold prices rose to around $1,922 per ounce, while gold futures were higher at $1,949 per ounce.


Following last week's strengthening, the US dollar retreated from 2-month highs against most major currencies.



Meanwhile, the benchmark 10-year US treasury yield declined from a 16-year high to 4.18%.


This indirectly gives an opportunity for the gold precious metal to increase.


This week's focus will be on the US personal consumption expenditure (PCE) report due out on Thursday and NFP employment on Friday.

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