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According to the World Gold Council, central banks purchased a record 483 tons of gold in the first half of the year. Central banks from Turkey, India, and China topped the list of the biggest buyers.
Gold prices are trading under pressure as the dollar gains traction and riskier assets rally. The ECB’s Hanson warned of risk from trade wars, while Coeure discussed the issues with Greek debt.
Prices surged above resistance which is now short term support near a downward sloping trend line at 1,212. Additional support is seen near the 10-day moving average at 1,200.
Gold prices consolidated on Friday and is trading just above support near the 50-day moving average at 1,859. U.S. Existing Home Sales came in stronger than expected, rising to a 14-year high. The ...
The price of gold has surged more than 32% this year.
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Gold prices move higher as the dollar starts off the week on a softer note. The dollar faced downward pressure amid slower growth prospects and Fed speak and first-quarter GDP will signal economic ...