Gold - renewed physical demand may be acting as underpinning the price
A snippet from an analyst piece on the overnight move higher for the precious metal is interesting:
- Gold rebounded as a weaker USD and signs of inflation boosted investor demand.
- supported by a fall in yields on US Treasuries
- A revival in Indian imports is also raising hopes of a recovery in the physical market. Swiss exports to India in January climbed 12% m/m to 38.7t
Bolding is mine. I do wonder if this is enough to support the price should yield begin their march higher again though. The chart does not look overly promising either ...