Gold prices fell slightly on Monday due to rising US dollar and U.S. Treasury yields, but rising inflation and uncertainty about Omicron variants limited the decline in gold prices. Investors will pay attention to the US consumer price data to be released later this week. The strengthening of the U.S. dollar made gold more expensive for overseas buyers, and the yield on 10-year U.S. Treasuries rebounded. Global stock markets rebounded and were sold off last week due to concerns about Omicron's proliferation.

David Meger, director of metal trading at High Ridge Futures, said that gold will still be in a volatile trading environment, and there are two forces in the market. To hedging demand.

The financial market has been trying to interpret the central bank's policy signals this year, and December will face the biggest challenge. Next week, the Fed, the European Central Bank and the Bank of England will hold the last policy meeting of the year within 24 hours. The Deputy Governor of the Bank of England Broadbant said on Monday (December 6) that the UK inflation rate may "steadily exceed" 5% in April next year, and the country’s tight labor market may be a more permanent inflation. source. Initial signs indicate that the Omicron variant virus may be mild, and investors hope that it is. The euro zone finance ministers remained optimistic on the outlook for economic growth on Monday, and they agreed to continue to adopt a moderately supportive fiscal policy next year.

SPDR Gold Trust, the world's largest gold exchange-traded fund, said its gold holdings on Monday fell from 984.38 tons last Friday to 982.64 tons, a decrease of about 0.2%. But the Perth Mint said on Monday that sales of gold products in November jumped by about 94% from the previous month, reaching an eight-month peak.

Risk Warning: The above content is for reference only, and does not represent JRFX’s position. JRFX does not assume any form of loss caused by any trading carried out in accordance with this article. Please consult your financial planner for your investment portfolios and manage your own risk.

JRFX is an online CFD broker providing more than 50 products for Forex, metals and commodities. Open a trading account within a minute. Deposit 100USD and download our MT4 trading platform now!