Gold stumbles on US dollar vigour
A weekly market summary for gold, Feb 3 to 9
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Gold prices succumbed to bearish pressures this week in lieu of vigorous showings by the US dollar. The greenback has shown for positive conditions in Q1 2019 as global central banks hinted at a potential pause in monetary policy tightening amid looming economic risks. An extended rally in the US dollar has dented bullion appeal as investors pivoted towards interest-yielding assets. A sharp downward revision on Euro-zone economic forecasts has dampened risk appetite, however, as the European Commission raised concerns on global trade tensions and slowing expansionary activities in 2019. The precious metal though experiencing headwinds from robust US dollar vigour remains fundamentally supported amid signs of a flagging global economy and heightened geopolitical risks in the current term.
What should investors look out for next week?
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