Price of Gold Fundamental Daily Forecast - Trader Indecision Fueled by Weaker Dollar, Higher Yields
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Euro Pound Edges Lower as Pound Supported by UK Inflation Data | Euro Exchange Rate News
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Price of Gold Fundamental Daily Forecast – Light Trade Capped by Rising Yields, Underpinned by Bottom-PickersThe dollar lost ground on Friday as market participants favored currencies associated with risk-on sentiment over the safe-haven greenback.
Feb 19, 2021 09:44 PM GMT
Gold futures are trading slightly better late in the session on Friday, recovering from more than a seven-month low hit earlier in the day. The potential reversal suggests value buyers may be coming in with the market currently straddling a longer-term support area.
A lower U.S. Dollar likely provided the lift gold needed to prevent a wash-out to the downside, while rising Treasury yields kept a lid on any major upside movement.
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