PRECIOUS METALS | Gold Rises in Early Asian Trade as Rate and Inflation Concerns East
Gold rose in early Asian trading.
According to Jin10, The Revacy Fund CEO Zaheer Anwari said improved market confidence, driven by easing concerns over energy supply disruptions, inflation, and interest rates, has created a more favorable environment for gold.
Traders are closely watching decisions from multiple central banks this week. Anwari said the Bank of Japan’s rate hike has supported Japanese bond yields and may limit gold’s upside, while investors expect the Federal Reserve to keep interest rates unchanged.
He added that if the Fed’s updated economic and inflation projections remain positive, gold prices may rise further. Anwari also said continued central bank buying could provide strong structural support.
Anwari said gold prices should find stable support around $4,000 per ounce.