Gold price gains ground for the third session on subdued US Dollar.Yellow metal may receive support on the positive sentiment as PBoC boosts financial support for private firms.Fed officials favor further tightening and emphasize that decisions will be contingent on incoming data.
Gold price trims some of its intraday gains during the Asian session on Monday, pulling back from a six-month high at $2,018 per troy ounce. At the time of writing, the price of the precious metal trades higher around $2,010.
The price of Gold could see further strengthening on the positive sentiment arising from the news that the People's Bank of China (PBoC) has issued a notice to enhance financial support for private firms. This includes support for private enterprises in listing and financing, mergers and acquisitions, and restructuring.
Source:www.fxstreet.com
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