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Gold could rise to $1,825

Gold prices continue to trend higher on Monday, while UST yields are in decline. Meanwhile, the dollar exchange rate is quite stable, as investors in recent weeks have learned to focus on one thing. By the time of writing, the price stood at $1,818, with the first target of the rally at $1,825, and then $1,834.

We also note that if the price of gold drops to $1,815, sellers will open the road to $1,808.

Bond yields began to decline after Friday’s strong US NPF report for October came out. The US economy added 513,000 new jobs compared to much more modest expectations. This supported the idea that the situation on the labor market is improving, while the Fed’s taper will not harm the economy in any way.

Furthermore, the decline in UST yields lowers the cost of investing in alternative assets that do not generate their own interest income, such as gold, for example.

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