Gold prices jumped this morning during the Asian hours, taking into account the soaring price pressures on the U.S. inflation data. Presently, the yellow metal trades at $1827.08, which is a surge of $1.44 or 0.08% from the previous close of 1825.64. The daily trading range is from $1824.12 to 1829, while the trading volume is 46.57K.
The USD which in general is into a reverse relationship top gold lost some ground today.In addition, U.S. 10-year Treasury yield soared 1.97% on Tuesday.
European Central Bank’s president Christine Lagarde announced at the beginning of the week that there is no need for extensive tightening as inflation is set to lose steam and IS expected to return to normal levels.In the meantime, silver gained 0.4% while platinum and palladium were retreated 0.2%.