Gold closed above $1900 for the first time since the first week of January. With XAU/USD breaking above the $1900 level, there is a clear bullish momentum with precious metal demand right now,
“Gold finally closed above the $1900/oz for the first time since the start of the year, and we think that may herald further bullish momentum for the precious metal.”
“Prices have been supported by talks of yet another outsized fiscal stimulus from the Biden administration at $6tn for the 2022 fiscal year. Hence, there has been a divergence between the steady nominal Treasury yield levels and gold movements.”
“A weak Nonfarm payrolls number this Friday may jolt gold prices toward the $1975 level.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
