Fundamental view: Gold markets initially tried to rally during the course of the week but then pulled back again as they cannot seem to pick up enough momentum to continue going higher. TD Securities said in a note that “While the global market is readying for an inflation overshoot, gold is underperforming.” “Institutional outflows continue [...]
Fundamental view: Gold markets have gone back and forth during the course of the week. With the benchmark 10-year US Treasury bond yield continuing to edge lower, however, gold advanced to its highest level. In the absence of high-tier macroeconomic data releases, XAU/USD continued to react to fluctuations in the US T-bond yields. US President Joe [...]
Fundamental view: The yellow metal showed an uptrend against the greenback. Greenback was weak due to the steep decline witnessed in the US Treasury bond yields. In the past week, Core Consumer Price Index (CPI), edged higher to 1.6% in March from 1.3%. Although this reading surpassed the market expectation of 1.5%. FOMC Chairman Jerome Powell reiterated that it [...]
Fundamental view: The yellow metal was trading tight range at the beginning of the week due to the thin trading conditions because of Easter on the week beginning which allowed financial markets to remain calm. After that, the sharp drop witnessed in the US Treasury bond yields weighed heavily on the greenback and triggered a [...]
