Gold prices are gaining more than 0.7% today and even though the scale of the move does not seem particularly impressive, it is surely worth to watch. Markets are generally in a risk-off mood today as US stock indices plunged. The uncertainty is also reflected by plummeting US bond yields. US 10-year Treasury yield fell towards 1.25%. On the other hand, the ongoing rebound on EURUSD may be associated with the ECB’s strategy review.
GOLD continues to rebound, even though the price fell below $1,800 an ounce for a while today. The rally is supported by tumbling US bond yields (rising TNOTE price). Source: xStation5
BREAKING: Massive increase in US oil reserves!
Market wrap: Oil gains amid US - Iran tensions ๐ European indices muted before US NFP report
๐ Gold jumps 1.5% ahead of NFP, hitting its highest level since Jan. 30
Silver rallies 3% ๐ A return of bullish momentum in precious metals?