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Bullion Up Slightly, Holding Above $1805/oz

GOLD

Gold prices are up 0.2% during today’s session after falling 0.5% on Wednesday as trend conditions remain bullish. It is currently trading around $1807.50/oz after reaching a high of $1809.38 and a low of $1804.34. DXY is down 0.1%.

  • Gold moves inversely with the USD. Many analysts are expecting bullion to rally later in 2023 as the USD eases with the slowdown and eventual pause of Fed tightening. Higher yields are likely to weigh on bullion but a lower USD should make it cheaper for non-US buyers.
  • Gold hit a low of $1622.36 at the end of September this year and a high of $2050.76 at the start of March.
  • Another quiet day with only US jobless claims scheduled later.
Energy BulletsCommodities
Energy BulletsCommodities

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