Gold price Is catching a breather below $2000 early Tuesday, having corrected sharply from near five-month highs on Monday.
Gold price gathers pace for the next push higher early Tuesday. US Dollar extends recovery, as China woes dent sentiment. Sluggish US Treasury bond yields support Gold price amid bullish technicals. Gold price is catching a breather below $2000 early Tuesday, having corrected sharply from near five-month highs on Monday.
The BoJ formalized the yield curve control cap at 1.0%. However, if risk sentiment recovers or the Middle East conflict intensifies, we could see a renewed upswing in the Gold price, as the US Dollar will likely lose its recovery momentum. There are no major economic data releases from the United States, except for the US CB Consumer Confidence, which is unlikely to have a significant impact on the US Dollar valuations.
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