Gold price has entered a phase of consolidation at the start of a new week, following a massive surge to a fresh five-month high of $2,009 set last Fr
Gold price holds Friday’s solid gains above $2,000, as geopolitics dominate. US Dollar steadies, as US bond market action holds the key in the Fed week. Gold price eyes more gains amid a potential Bull Cross. Bull Flag remains in play. iday. Markets remain on a cautious footing amid the escalating Gaza-Israel ground conflict while bracing for a bunch of major central banks’ meetings in the upcoming week.
A pause in the US Treasury bond yield correction is also keeping the US Dollar afloat, capping the upside in Gold price. However, the US Treasury is set to announce the quarterly refunding, which is likely to have a huge impact on the bond markets, eventually affecting the US Treasury bond yields.
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