Gold Prices Regain a Foothold After Multiple Negative Sessions
FinancialBuzz.com News Commentary
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NEW YORK, March 10, 2021 /PRNewswire/ Gold prices rebounded about 2% on Tuesday, surpassing the key price mark of USD 1,700 and posted their first gain in five sessions. The yellow metal s recovery is attributed to a fall in the dollar value and a pullback in yields for government debt from one-year highs. Given the metal s zero-yielding nature, falling yields may provide a tailwind for bulls to elevate prices higher, said Lukman Otunuga, Senior Research Analyst at FXTM, according to a report by CNBC. While gold is considered a hedge against potential inflation from massive economic stimulus measures, rising bond yields have challenged that status, which is why gold prices had been dropping prior to Tuesday. Exploits Discovery Corp. (CSE: NFLD) (OTCQB: RNRRF), Gold Fields Ltd. (NYSE: GFI), Great Panther Mining Limited (NYSE: GPL), Equinox
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