Gold Prices Are Into A Flat Pattern
Gold prices are still into a flat mode amid the current demand for safe-haven assets such as gold.
Now, the yellow metal trades at $1537.43, which is a retreat of $9.91 or 0.64% from the previous close of $1547.34.
The daily range is from $ 1535.80 to 1550.00, while the trading volume is 125.798K.
Despite a minor loss from this morning, the precious metal is still adding ground, more than ever and it has already been up 20% this year.
Moreover, the benchmark 10-Year Treasury yield sunk to its bottom mark since July 2016.
Bearish data from the U.S. also stimulates the value of gold. U.S. Institute of Supply Management announced that its purchasing managers’ index for August dropped to 49 versus 51.2 seen in the previous month.
