The gold prices jumped to a fresh daily highs around $ 1,960 during the early New York session. The upside movement is support by weaker dollar, as an escalating expectations about further monetary easing by the Fed further benefitted the gold.
However, a strong opening in U.S. stock markets could undermine the gold’s safe-haven status and cap the upside. The investors will be waiting ahead of central banks events, with the FOMC on Wednesday, BoJ and BoE on Thursday.
The analyst expect that the gold prices could reached $2,000 if it continues to the upside, while the weakness could send the gold to $1,950 again, or even more deeper to $1,927 support area.
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