Gold prices held above $4,100/oz on Tuesday (November 11) during the Asian session. This was supported by increasing expectations of a Fed interest rate cut following a series of weak US economic data. On Monday, gold briefly touched a two-week high, while inflows into global gold ETFs in October increased again, providing a more solid basis for demand.
The dollar also weakened on hopes of a resolution to the US government shutdown, while the US 10Y yield held near 4.12%, a tame level supporting gold.
At the time of this analysis, gold prices were around $4,118.
Disclaimer:
This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
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