Spot gold prices have edged their way back higher Monday after posting some sharp losses at the tail end of last week. Spot gold ended Friday’s session $19.55 lower at $1721.75/oz pressured by a stronger US dollar after some lacklustre earnings from US companies sent investors into some alternative safe havens. Gold prices initially slipped to one month lows during Asian traded hours this morning, trading a session low of $1714.20/oz, before prices recovered to trade a session high of $1727.16/oz in tandem with an improved showing from FX pair euro-dollar which has been buoyant for much of the Asian session. Risk sentiment has moderately improved so far this morning after a more risk aversion theme was present early on. Spot gold is now trading $1725.60 a troy ounce, up $3.85 on the session.
EasyForexNews Research Team