Gold price will surpass 2,350 USD/ounce in July.
Gold prices rose more than 1.0% on Thursday, thanks to a sharp drop in US government bond yields after data on the US labor market was released. Specifically, the number of applications for unemployment benefits in the second week of November increased higher than expected, reaching 231,000, higher than the forecast of 220,000. The number of people receiving unemployment benefits also surprised when it increased to 1,865,000 - the highest in nearly two years, showing the difficulty of the US job market.
Gold prices rose sharply yesterday, overcoming important resistance lasting from 1,975-1,980 USD. If the upward momentum is maintained, the price could rise to the $2,010-2,015 area, further to $2,060 in the coming days.
Gold prices rose sharply yesterday, overcoming important resistance lasting from 1,975-1,980 USD. If the upward momentum is maintained, the price could rise to the $2,010-2,015 area, further to $2,060 in the coming days.
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