- Gold price settles around $1,950 after extending retracement on Monday.
- Bright metal volatility is here to stay in the short term.
- Balance between inflation, growth and financial stress will shape Gold market.
Gold price has settled around $1,950 in a quiet start to Tuesday trading. The bright metal extended its retracement on Monday on another volatile day, dipping to $1,944 before closing at $1,957, losing more than 1% on the day. It was the seven consecutive day where Gold price range moved over 1%, either up or down.
Things look a lot calmer now, although a sneaky busy Tuesday economic docket could shake things up again. Central bank bosses Andrew Bailey (Bank of England) and Christine Lagarde (European Central Bank) scheduled to speak at different events and the publication of the CB Consumer Confidence in the United States. The banking sector seems to have stopped providing big headlines, but the debate among policymakers on whether to tighten or ease the monetary policy amid sticky inflation figures will likely keep the market guessing and swinging.
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