From : https://www.investing.com/news/commodities-news/gold-futures-gain-in-asia-as-trump-signs-bill-to-fund-government-for-3-weeks-1136917

 

 

                                                

 

 

Gold futures gained in Asia on Tuesday with a government shutdown in the US ended for at least three weeks after President Donald Trump signed a continuing funding resolution passed by Congress on Monday.

 

Gold futures for February delivery on the Comex division of the New York Mercantile Exchange rose 0.32% to $1,336.10 a troy ounce.

 

Overnight, gold prices eased from highs as safe-haven demand fell following news that Senators may be near an agreement to end the government shutdown.

 

Also weighing on gold prices was a continued rise in Treasury yields as the United States 10-Year rose to a nearly three-and-half-year high amid growing investor optimism on the outlook of inflation and economic growth.

 

Gold is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-yielding assets such as bullion.

 

Sentiment for gold remains bullish, however, as data showed traders continued to increase their bullish bets on gold for the fifth week in a row.

 

The most recent Commitment of Traders (CoT) report showed money managers increased their speculative gross long positions in Comex gold futures by 11,258 contracts to 227,373.

 

 

https://www.investing.com/news/commodities-news/gold-futures-gain-in-asia-as-trump-signs-bill-to-fund-government-for-3-weeks-1136917