Gold Prices Rise

Prices of the yellow metal soared this morning, especially during the Asian trading hours amid falling rate forecasts.

Now, the precious metal trades at $1498.27, which is an incline of $5.21 or 0.35% from the previous close of $ 1493.06.

The daily range is from $1486.72 to $1498.69, while the trading volume is 164.865K.

The lowered expectations of a possible rate reduction is still putting negative pressure on gold prices and dropped below the key levels of $1,500 support.

In reality, slipping interest rates are connected to the precious markets because of the very strong negative correlation between the real interest rates and gold.

This implies in that gold prices are expected to shift into reverse direction to real interest rates.

Meanwhile, Sino-U.S. trade talks are likely to massive influence the direction of to dictate gold’s movement later in this week.

The latest reports indicate that China is less willing to agree on a broad trade deal with the U.S.