Gold is on track to print double-digit monthly gains. The metal has rallied on the back of dollar weakness and negative real yields. Gold is currently trading at $1,970 per ounce, representing a 10.5% gain on a month-to-date basis, having hit a record high of $1,981 on Tuesday. If these gains are held through Friday’s NY close, the resulting double-digit monthly gain would be the first since February 2016. The rally could be attributed to the dollar sell-off and negative yields on the US Treasury inflation-protected securities (TIPS). The dollar index fell to a 26-month low of early Friday, taking the month-to-date decline to 4.86%. Meanwhile, the 10-year real or TIPS yield fell to a record low of -0.90% earlier this week. Looking forward, gold could continue to gain altitude as the Fed is unlikely to normalize its easy policy anytime soon and the dollar is likely to remain under pressure due to renewed concerns regarding the future course of the world’s largest economy. Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/IDR Price News: Indonesian rupiah stays depressed above 14,650 FX Street 3 years Gold is on track to print double-digit monthly gains. The metal has rallied on the back of dollar weakness and negative real yields. Gold is currently trading at $1,970 per ounce, representing a 10.5% gain on a month-to-date basis, having hit a record high of $1,981 on Tuesday. If these gains are held through Friday’s NY close, the resulting double-digit monthly gain would be the first since February 2016. The rally could be attributed to the dollar sell-off and negative yields on the US Treasury inflation-protected securities (TIPS). The dollar index fell to a 26-month low of early Friday, taking the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
