Spot Gold Ended Lower By 0.6 Percent In The Week Gone By As Boost In Markets Risk Appetite
- Weekly Signals
- 2021, 26 July
Spot Gold ended lower by 0.6 percent in the week gone by
as boost in markets risk appetite, revival in Oil prices and
bets on the inflation being transitory element dented appeal
for the yellow metal.
The losses for Gold were limited as returns on US Treasuries
eased after the auction of $16 billion in 10-year TIPS was bid
at record low.
Also, the European Central Bank keeping their
stance accommodative and interest rates at record low
levels in the recent meet in order to support their economy
and boost inflation was also supportive for Gold.
Weaker than expected US economic data in the week gone
by shifts all the focus on the U.S. Federal Reserve meeting
scheduled in the coming weeks for hints on their monetary
Buy above 1755 for 1915 and 1960
Sell below 1755 for 1675 and 1585