(Kitco News) After a selloff towards $1,800 an ounce, gold is up on some bargain-hunting with prices back above $1,830 despite a higher U.S. dollar on Monday.
The increase in market volatility come as markets are closed Monday in recognition of Martin Luther King Jr. Day.
With the U.S. dollar in control of gold’s price moves, this week’s focus is on the designated new U.S. Treasury Secretary Janet Yellen’s testimony scheduled for Tuesday. Markets are zeroing in on Yellen’s comments about the future of the U.S. dollar policy, according to analysts. Read more…..
Chart of the Day
Given the political and economic environment that we’re in, gold should be much higher, said E.B. Tucker, author of “Why Gold, Why Now.”