Gold increased slowly, market analysis
Hello everyone, this is Samson speaking!
Yesterday, the gold market experienced strong buying pressure as the latest report showed signs of cooling in the US labor market. Despite facing negative pressure from a strong USD and high US bond yields, disappointing employment data has generated some momentum for gold buying as prices rose to positive territory at the start of the trading session.
However, the increase in gold prices was relatively slow. The USD continues to remain high.
In the short and medium term, gold still faces pressure from tight monetary policies in the US. The Federal Reserve will continue to raise interest rates and maintain them for an extended period of time.
Yesterday, the gold market experienced strong buying pressure as the latest report showed signs of cooling in the US labor market. Despite facing negative pressure from a strong USD and high US bond yields, disappointing employment data has generated some momentum for gold buying as prices rose to positive territory at the start of the trading session.
However, the increase in gold prices was relatively slow. The USD continues to remain high.
In the short and medium term, gold still faces pressure from tight monetary policies in the US. The Federal Reserve will continue to raise interest rates and maintain them for an extended period of time.
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