GOLD HITS ONE MONTH HIGH ON HOPES OF CONTINUED EASY MONETARY STANCE FROM US FED

Published on Jul 15, 2021 11:54

COMEX Gold shot up to near one month high following hopes of a continued easy monetary policy by the US Fed. The US Fed Federal Reserve Chair Jerome Powell said the US economy was still a ways off from levels the central bank wanted to see before tapering its monetary support. The US 10-year bond yields continued to ease after hitting a one week high of 1.42% and supported Gold. The yellow metal currently trades at $1832 per ounce, up 0.40% on the day on continued buying support.