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Gold Price Prediction – Prices Rise Despite a Gain in the Dollar

FXEmpire - Gold prices moved higher on Monday, but liquidity was weak due to the US Martin Luther King Day holiday. All eyes will be on the ECB meeting this week, but investors will also need to absorb and interest rate decisions from both the Bank of Japan and the Bank of Canada. Gold prices generally underperform when the dollar is rising, and the greenback is enjoying a rise in value against most currencies except the Euro. The rally in the Euro is helping to buoy gold prices. US yields remain unchanged and continue to consolidate in a tight range.

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