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Gold Rises Aided By Weaker Dollar, Lower Yields And Dovish Central Banks

From fxempire.com

The low last week was $1677. Gold prices have since risen to almost $70 in just about a week. In the last four trading days the U.S. dollar has been in a defined downtrend after trading to a high of 93.50 on March 31 and settling today at 92.29, a decline of 1.12% over the last four trading days. Concurrently yields on U.S. 10-year Treasury notes have also fallen and are currently yielding approximately 1.657%. As of 5:15 PM EST gold futures basis, the most active June 2021 Comex contract is currently fixed at $1744.40 after factoring in today’s gains of $15.60 (+0.90%). {chart} Spot gold also had respectable gains ... (full story)

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  • Category: Technical Analysis