Gold may strengthening

Quotes of gold traded quite actively in the course of trading on Tuesday, but at the end of the day almost did not change compared to the opening price of the session at around 1292 dollars per troy ounce.
For the gold market, it is very important that the price seems to be fixed below the support level of $1,300 per ounce. A record increase in the yield of US bonds over the past seven years and the strengthening of the dollar index to a five-month high continue to exert strong pressure on gold quotes. In addition, there are a strong US stock market, as well as expectations for further tightening of monetary policy in the US. Some investors expect three more interest rate hikes this year. The first of these should take place at the next Fed meeting in June, and according to some forecasts, the probability of this event is almost 100%.
Another factor testifying to the strengthening of gold remains a possible truce between China and the United States regarding possible trade wars. However, the geopolitical component still remains a factor of gold support, thanks to the possible introduction of US sanctions against Iran and Venezuela, after Nicolas Maduro was elected for a president for another term.