Gold prices settled higher on Tuesday, with prices inching closer to record highs as the U.S. dollar and Treasury yields weakened after data from the U.S. Labor Department revealed that job openings fell to a 21-month low.
Price action
Market drivers
The ICE U.S. Dollar index is “on the verge of putting in a major top, and bond yields are also putting in a top,” Paul Wong, market strategist at Sprott Asset Management, told MarketWatch. “Investment funds and retail gold positioning are very under-exposed.”
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