Price of Gold Fundamental Daily Forecast – Renewed Vaccine Hopes, Demand for Risk Weighing on Prices

Price of Gold Fundamental Daily Forecast – Renewed Vaccine Hopes, Demand for Risk Weighing on Prices

Longer-term gold traders are aware that any extreme weakness will be met with aggressive buying with the Federal Reserve watching their backs. A rise in U.S. Treasury yields and a slight recovery from an earlier setback by the U.S. Dollar are weighing on gold prices on Monday after an early rally attempt failed. Increased demand for riskier stocks and currencies is also helping to generate some downside pressure.

At 12:46 GMT, December Comex gold futures are trading $1872.80, down $13.40 or -0.71%.

Unlike last Monday, gold is responding to demand for stocks, which appears to be encouraging traders to sell Government bonds, driving yields higher. The move suggests that today is going to be a “risk-on” session with the U.S. Dollar on the outside looking in. Should the dollar participate in the demand for risk, however, then look for gold to break sharply throughout the session.

Earlier in the session, gold was […]

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.

Posting Guidelines
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!


No comments yet