Gold Price News and Forecast: XAU/USD in tug-of-war between clashing investment properties
|Gold Price Analysis: XAU/USD refreshes two-week high, eyes $1,900 amid risk on mood
Gold buyers pause around $1,871, recent high of $1,871.28, after rising the most in 13 days the previous day, as Thursday’s Asian session begins. In doing so, the yellow metal seesaws around the recently flashed two-week top as traders await fresh push to extend the optimism.
Aussie employment, BOJ will decorate Asian calendar but ECB and Biden’s first day in the office will be the key.
Gold Price Analysis: XAU/USD in tug-of-war between clashing investment properties
The price of gold is trading at $1,869.13 at the time of writing, travelling between a low of $1,832.57 and $1,870.48 on the day so far. Markets flipped risk on this Wednesday in anticipation of Joe Biden's swearing-in as the 46th president of the US.
The S&P 500 popped in the open and continued to edge higher around the event as Wall Street hit new record highs. Wall Street is liking Biden's laid out $1.9trillion stimulus package proposal which is expected to boost the economy and speed up the distribution of vaccines.
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