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Gold steady as yields and US dollar remain undermined
After silver’s big plunge on Monday, both precious metals have managed to steady the ship, suggesting the move at the start of the week was probably a bear trap. The US dollar has come back against the Canadian dollar thanks to a 25-basis point rate hike from the Bank of Canada, with its governor saying that interest rates will be kept at its current level while the bank assesses the impact of the cumulative interest rate increases. But elsewhere, the likes of the pound, euro and yen all remain supported against the US dollar. This is helping to keep buck-denominated metals supported. Investors are growing ... (full story)
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- Posted: Jan 25, 2023 1:23pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 106
