
The market is clearly more focused today on the thought that we are moving closer to the conclusion of those fed rate hikes, and I don’t really believe we saw a lot of material here to shift the path of the Fed.
Benchmark Treasury yields were nearly at their lowest levels in in two weeks, while the dollar index was down 0.7%, both of which helped bullion perform better.
Since hedge funds started showing renewed interest in the long side of the market at the beginning of the year, Jim Wyckoff, senior analyst at Kitco Metals, predicted that gold might continue to trade flat to higher in the first quarter.