Gold's price (XAU/USD) turns higher again and enters into a third straight day of gains, after breaking and closing above the 55-day Simple Moving Average (SMA) at $2,654 the previous day. The move comes as yields across the globe start to surge due to inflation concerns. Traders are getting worried that inflation could peak again with all the stimulus plans, fiscal reforms, and tariff levies that President-elect Donald Trump has announced in the past few days and weeks.
On the economic data front, this Thursday, all eyes are on the Federal Reserve (Fed), which has a slew of policymakers lined up to speak. Overnight, the Fed Minutes of the December meeting did not provide any new facts on rate expectations for 2025. Meanwhile, markets will keep an eye on Bitcoin, which has sold off substantially this week while yields are soaring. This creates the same set of parameters as in 2023, which resulted in the bankruptcy of the Silicon Valley Bank.
Source: fxstreet
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