Gold made an impressive comeback last week after the NFP report. The pair, continues skewed lower since prices exceeded last year as gold has been trying to assemble upside momentum. This likely speaks to the hard medium-term path for gold.
The Fed is going to begin tapering asset purchases this month to the tune of $15 billion, finishing the process by the middle of next year but the central bank still remains broadly patient on rates. Even though there has been a surprise in inflation as of late, policymakers anticipate bottlenecks to progressively lift, bringing down general price growth.
Higher global bond yields will possibly continue pressing against the precious metal and this may keep Gold range-bound.
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