Gold prices rebounded slightly on Wednesday as the dollar eased paving the way for higher gold prices. US yields moved lower across the curve with the 10-year dropping 3-basis points to 72-basis points. US wholesale inflation figures came out stronger than expected following Tuesday’s CPI report which showed that consumer inflation remains tame.
Gold prices rebounded on Wednesday after dropping on Tuesday. Prices recapture short term support is seen near the 10-day moving average at 1,902. Resistance is seen near the 50-day moving average at 1,933.
Capital Limited (LON:CAPD) provide complete exploration and production drilling solutions to customers within the global minerals industry, with a focus on the African markets.