TRENDING:

Gold Price Analysis: XAU/USD set to average $1800 in 2021 – Citibank

Economists at Citibank expect gold (XAU/USD) to see further sideways trading between the $1700-$1900 range in the rest of the year.

Rising 10-year Treasury yields weighs on the yellow metal

“We expect that XAU/USD could mostly hover between the $1,700-$1,900/oz range for the balance of the year and average $1,800/oz in 2021.”

“We see several peak cycle risks for the bullion market. These include risk of the US Federal Reserve tapering asset purchases by end-2021 and more aggressive short-term interest rate trading pricing for policy rate lift-off in 2022/2023 which may, in turn, be USD supportive.”

“The rise in 10-year Treasury yields this year is also a headwind for a long duration zero-coupon asset like gold.”

“A risk asset and commodities reflation narrative amid a COVID-19 vaccine trade could also favor inflows into oil, copper and other markets versus gold.”

Author

FXStreet Team

FXStreet

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD: Upside remains capped by 1.1600

EUR/USD trades in an unconvincing fashion around the 1.1560 region despite the better tone in the broader risk complex and amid the equally vacillating price action around the US Dollar. Investors, in the meantime, should pay close attention to developments from the US political arena, particularly anything related to the potential end of the US government shutdown.

GBP/USD holding just below 1.32 as UK labor data rounds the corner

GBP/USD kept its foot on the gas pedal on Monday, extending into a four-day win streak as Cable traders gear up for the latest round of UK employment figures. Veterans Day will see a moderation of market flows in the US on Tuesday, but hopes that the US could be close to wrapping up the longest government funding closure in its history should keep risk appetite well bid and put a hard cap on bullish US Dollar flows.

Gold holds positive ground above $4,100 as Fed rate cut expectations rise

Gold price holds positive ground near $4,120 during the early Asian session on Tuesday. The precious metal edges higher after reaching a two-week high in the previous session, amid prospects for rate cuts by the US Federal Reserve in December and a softer US Dollar. The US ADP Employment Change Weekly will be in the spotlight later on Tuesday.

Coinbase rolls out public token sale platform, Monad to kick off launch

Coinbase announced that it will roll out a new platform for crypto offerings. The platform will enable individual investors to purchase digital tokens before they are listed on the exchange. Following its launch, Layer-1 network Monad will offer its token for sale on the platform on November 17.

AI shares an intrusive thought

If you’ve been following financial media over the past few weeks, you’ve probably seen the debate about whether the current AI-fuelled rally is a bubble. I’ve said many times that I believe it is—but the bubble question is almost secondary to a more immediate issue: what AI is about to do to jobs.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple extend recovery as market sentiment improves

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) traded higher on Monday after rebounding from key support levels the previous week. The top three cryptocurrencies suggest further recovery, as momentum indicators signal a fading bearish trend.