Gold Price Trading Range $1713——$1777, FOMC awaited. Gold extended its sideways consolidative price action and remained confined in a range around the $1730 region through the Asian session.
Gold price weekly fundamental forecast : Gold silver prices perked up a bit last week to put an end to their recent string of losses. Gold notched a gain of 1.44% while Silver edged 2.74% higher on balance.
Spot Gold Prices Bullish : Above $1690 Under Bullish Zone. Gold failed to sustain at weekly highs around $1739.40 on Thursday, ending the day in the red at $1724. The rebound in the US Treasury yields from multi-day lows capped the recovery rally in the non-yielding gold.
Gold price takes a breather after the two-day recovery rally but holds well above the $1697 key level. The returns on the US Treasuries resume the upside on the back of the revival of the reflation theme after Congress passed the $1.9 trillion stimulus bill on Wednesday.
Gold price steadied after advancing for two days as investors weighed the prospects of further U.S. stimulus and the latest reading on inflation.
spot gold price forecast 2021 : Gold bulls take a breather after the 2% recovery rally witnessed on Tuesday. The haven demand for the US dollar has returned amid a cautious market mood, as investors await the House of Representatives vote on the Senate’s $1.9 trillion stimulus bill this Wednesday.