Gold Consolidating Near $1900 In A Limited Range – Investing.com

Gold Consolidating Near $1900 In A Limited Range – Investing.com

is trading at $1896 and holding in the limited range from the last two trading sessions following a limited move in the and global bond yields.
 
Tuesday's global economic data was mixed for gold prices. US data, and 's GDP numbers were negative for gold prices however; it found support from Germany number. Today's German data was also negative for precious metal prices. German continued their recovery in April despite the continuation of lockdown restrictions aimed at containing the coronavirus pandemic. The country's exports rose 0.3% from March in adjusted terms against the forecast of 0.4%, Imports decreased 1.7% on the month. Germany's trade surplus--the balance of exports and imports of goods--totaled 15.9 billion euros ($19.4 billion) in the calendar and seasonally adjusted terms in April against the forecast of 16.0 billion euros.
 
Dovish comments from Deputy BOJ Governor Amamiya were supportive of gold prices. He said that the BOJ will extend special pandemic programs if needed and that the BOJ will add easing without hesitation if needed.

US inflation expectations are likely to keep gold prices under pressure. The 10-year breakeven inflation expectations rate on Tuesday fell to a 1-month low