Gold finds support and rises!
According to US investors, gold has found support from a weakening dollar and has begun to rise.
Gold recovered its losses from Monday as investors monitored strong economic data that reduced hopes for an early shift toward monetary easing by the Fed last week.
Spot gold, which finished Monday down 0.4 percent, is trading at 2,029 dollars per ounce, up 0.4 percent on the second trading day of the week.
Gram gold, calculated based on the ounce of gold and the interbank Dollar/TL exchange rate, is hovering above the 1,950 TL level.
TREASURY YIELDS REMAIN HIGH
Spot gold traded in a narrow range as investors awaited clues on whether the Central Bank of the Republic of Turkey (TCMB) would begin interest rate cuts starting in March. Treasury yields, meanwhile, remain high.
Swap markets are now pricing in a less than 40 percent probability of a potential Fed interest rate cut in March, down from the nearly 70 percent they had priced in a week ago.
News Source: 12punto
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