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Gold closed above $1900 for the first time since the first week of January. With XAU/USD breaking above the $1900 level, there is a clear bullish momentum with precious metal demand right now,

Gold returns above $1900/oz

“Gold finally closed above the $1900/oz for the first time since the start of the year, and we think that may herald further bullish momentum for the precious metal.”  

“Prices have been supported by talks of yet another outsized fiscal stimulus from the Biden administration at $6tn for the 2022 fiscal year. Hence, there has been a divergence between the steady nominal Treasury yield levels and gold movements.”

 “A weak Nonfarm payrolls number this Friday may jolt gold prices toward the $1975 level.”