Market Analysis: The US Dollar and US Treasury Yields Are the Main Drivers of Gold Prices This Week

Jinse Finance reported that analyst Fawad Razaqzada stated that the movement of gold this week will mainly depend on US Treasury yields and the US dollar exchange rate. "If bond prices continue to fall or yields rise, it could put pressure on low-yield and zero-yield assets such as gold," he said. Meanwhile, "if the US dollar rebounds this week (with a dense schedule of data releases and speeches from Federal Reserve officials), gold may lose some of its appeal." Last week, the US dollar came under pressure as the Federal Reserve left the door open for further rate cuts next year. Currently, the market focus is on Tuesday's release of the November non-farm payroll report and Thursday's consumer price data.