Gold has been up for four days in a row, gaining $12.2 to reach $1,947.6.

Published: January 25 2023, 22:05 GMT+0

Gold has been up for four days in a row, gaining $12.2 to reach $1,947.6.

After dipping down to $1,920.6, Gold regains earlier losses and goes up to $1,947.6 per ounce.

This move comes while some more positive signs for Gold are out as highly important Crude Oil Inventories data from United States beat analyst expectations of 971,000 with a reading of 533,000.

Meanwhile, United States 5-Year Note Auction released today at 18:00 UTC with a figure of 3.53, while the previous figure was 3.973. Fresh Cushing Crude Oil Inventories data from United States came out at 4.27 million.

This rally in Gold's price coincides with other Metals as Silver ascends 1.18% to trade around $24.03.

Meanwhile, after ending yesterday's session at $1,066.8, Platinum lost $19.5 and is trading around $1,047.3. Palladium is down to $1,692.5, losing $43, after closing at $1,735.5 in the preceding trading session.

Today's gains are adding to bullish investor sentiment as robust macro data is expected for release later today; as things stand, upcoming United States Core Durable Goods Orders data is projected to fall short of market expectations with newly published data of -0.2%, following on from the preceding figure of 0.1%. New data is set to be published tomorrow at 13:30 UTC. United States GDP expected to decline to 2.6 while its preceding data was 3.2, data will be available tomorrow at 13:30 UTC. Tomorrow at 13:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 205,000 from the preceding figure of 190,000.

The commodity has been trending positively for about a month. This year has been a bright one for Gold after trading as low as $1,623.3 and going on to appreciate by 6.27% year to date.

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