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On Friday, after yesterday's decline to near a three-week minimum, gold seems to have steadied and held with minor revenues through the Asian trading session.
A steep ascend in the American Treasury bond yields, underpinned by mostly in-line core PCE price index, provoked an abrupt dive around the non-yielding commodity.
A fresh wave of the greenback selling bias, powered by renewed worries over the fate of Donald Trump’s proposed tax cuts, gave some support to gold and helped to rebound from dips.
A follow-through USD weakness in addition to a considerable slowdown in China's manufacturing activity gave some extra support to the number one precious metal.
Notwithstanding the supporting factors, resilient American bond yields continued exerting some downward pressure, keeping a lid on any significant up-move for gold.
The US ISM manufacturing PMI along with speeches by influential FOMC member are expected to influence gold’s movement a bit later on the last day of this trading week.
On Monday, gold managed to ascend from one-week minimums in subdued Monday trade due to the fact that market participants waited for what’s widely anticipated to be the Fed’s third interest-rate lift of 2018 this week…
On Friday, gold declined, simultaneously trying to preserve its weekly profits because the USD index jumped, offsetting its abrupt weekly dive…
On Thursday, gold declined notwithstanding a weakening evergreen buck in the face of ebbing trade fears, as market participants waited for economic data later in the trading session and also looked ahead to the Fed’s policy gathering next week…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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