Gold prices are holding above the highest level since April

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Monday, January 23, 2023 - 23:43
Point Trader Group

Gold prices ended trading today, Monday, with slight gains, getting rid of the losses incurred earlier in the session, to settle near the highest level since last April.

It seems that gold is gathering positive momentum, taking advantage of the uncertainty about the monetary policies of global central banks, as well as the fading of fears about a possible recession.

Meanwhile, the dollar index rose by 0.1% to the level of 102.2 points, but its gains were not enough to put pressure on the precious metal.

At the end of the Monday session, US gold contracts for February delivery rose by 0.02%, or about 40 cents, to $1928.60 an ounce, which is the third consecutive gain for the yellow metal, and it is the highest level since April 22.


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