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Gold Recovery Gathering Pace
Gold prices are enjoying a much better week this week, with gold futures up firmly through yesterday and early trading today. The market has bounced around 4% off last week’s lows and is now back above the 2,604 level. A key driver behind the move higher in gold this week has been the weakness we’ve seen in USD. The rally in the greenback has paused for now with traders awaiting catalysts for a further push higher. In the meantime, we’re seeing some profit taking kicking in with the Dollar pulling back a little from recent YTD highs. Gold prices are also being bolstered this week by safe-haven demand linked to ... (full story)
