Gold Expected To Trade Higher – Investing.com
- Date: 26-Jul-2021
- Source: Investing.com
- Sector:Oil & Gas
- Country:Middle East
Gold Expected To Trade Higher – Investing.com
Due to the increased instances of the Delta variant of COVID-19, is modestly higher. Gold prices have risen from their low of $1789 on Friday to trade above $1808, boosted by a drop in US bond yields; but, the 's strength is restraining gains.
The dollar was supported on Friday by rising US bond yields and signs of growing US manufacturing activity. However, the dollar index is currently trading near 92.69, which is slightly lower than the previous week's high of 93.19.
Global economic data was mixed for gold prices. The July in the United States unexpectedly increased by +1.0 to 63.1, beating estimates of -0.1 to 62.0. The July , on the other hand, plummeted -4.8 to 59.8, missing forecasts of 64.5.
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