Gold Price News and Forecast: XAU/USD holds onto modest gains
|Gold Price Analysis: XAU/USD flatlines around $1840 as markets look forward to Biden inauguration
Spot gold prices (XAU/USD) have for the most part gone sideways on Tuesday, as markets digested what turned out to be a large as expected testimony from US Treasury Secretary nominee (and former Fed Chair) Janet Yellen. Per troy ounce spot prices have for the most part stuck within a few dollars of the $1840 mark and the precious metal is shaping up to finish the day with modest gains of about 0.1%.
Gold Price Analysis: XAU/USD holds onto modest gains, capped by the $1845 area
Gold is rising modestly on Tuesday, on the back of a weaker US dollar and US yields. It peaked on European hours at $1845 and recently at $1842. It is hovering around $1840, up for the second day in a row.
The yellow metal bottomed at $1833 and quickly rebounded; the move lower took place amid a correction in equity prices in Wall Street that trimmed gains.
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