Gold prices further declined Monday but turned positive today currently trading at $1171.50 as the USD declined relieving some pressure after investors speculated on future interest rate rises of the Federal Reserve after ending bond-buying last month and the unexpected expansion of Bank of Japans stimulus. But the market sentiment on gold still stays negative.
U.S. data later that week with potential impact on the USD and U.S. monetary policy will be in the focus. A strong USD tends to push down gold, which is priced in USD, as it is getting more expensive for holders of other currencies.
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