Gold futures trade a touch higher early Monday.
Gold futures ticked slightly higher early Monday, seeing some modest buying interest after a rebound by the U.S. dollar and higher bond yields last week took some steam out of a 2023 rally.
Price actionMarket drivers Gold rallied in the wake of the March collapse of Silicon Valley Bank, which sparked fears of wider problems in the banking sector. But expectations the Federal Reserve and other major central banks will continue to hike interest rates in their effort to bring inflation back to their targets served... Gold futures ticked slightly higher early Monday, seeing some modest buying interest after a rebound by the U.S.
Price action Market drivers Gold rallied in the wake of the March collapse of Silicon Valley Bank, which sparked fears of wider problems in the banking sector. But expectations the Federal Reserve and other major central banks will continue to hike interest rates in their effort to bring inflation back to their targets served to undercut the yellow metal in the past week.
“While market confidence remains so fragile, gold’s safe haven appeal is likely to remain attractive to investors for a good while yet so while it will take a fresh catalyst to see the price return back above $2,000 an ounce, gold is unlikely to fall below $1,950 any time soon,” he wrote.
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