Gold and silver rallied last week but failed to break key resistance levels, while the US dollar retreated from a strong resistance area.
Gold edged lower on a possible technical correction in the early morning Asian session after front-month gold futures settled 1.3% higher on Friday.
The US dollar has remained strong this week in most of its pairs after inflation increased as expected.
Gold exports from Africa more than doubled between 2012 and 2022 from 243 metric tons to 609 metric tons.
Gold holds steady above $2,700 with weekly gains, supported by safe-haven demand and speculation of Fed rate cuts. Traders await Trump's policy announcements.
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Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
Gold is moving lower as traders take some profits off the table ahead of the weekend.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.