January 17, 2023 03:53 GMT
Gold Prices Lower But Not Too Far Off Recent Highs
MNI (Australia) - Gold prices are off slightly (-0.3%) on higher UST yields, despite the USD being softer during the APAC session. Bullion range traded during Monday’s northern hemisphere session. Gold is currently around $1910.20/oz, close to the intraday low, after reaching an intraday high of $1919.11 earlier.
- Conditions for gold remain in a bullish uptrend with higher highs and higher lows. The reopening of China’s economy should mean increased physical demand for the yellow metal.
- There is no data scheduled in the US today but the Canadian December CPI is released. Later there is also UK labour market data. On Wednesday, the BoJ meets and US December retail sales & PPI print.