Gold Price News and Forecast: XAU/USD wavers around $1,800 as mixed clues probe two-month high
|Gold Price Analysis: XAU/USD wavers around $1,800 as mixed clues probe two-month high
Gold prices seesaw around $1,794, after rising to the highest since February 25, during the initial Asian session on Thursday. The yellow metal rose for the second consecutive day, recently struggling, during Wednesday’s rise to the multi-day top. The Bank of Canada’s (BOC) tapering gained the bull’s attention but recent challenges to the risk, mainly from the coronavirus (COVID-19), geopolitics and fiscal fronts test the upside ahead of the key European Central Bank (ECB) meeting.
A longview on gold and precious metals
The precious metals complex and especially gold is fascinating many investors. Not surprisingly, some myths formed around the asset class. There is a widespread belief that precious metals are a safe haven and protect against inflation. That’s true over the long run but can be costly on short- and medium-term timeframes.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.