Gold Price Forecast: XAU/USD Holds Critical Support as US Rates Surge

I still want to view Gold as bearish given this collection of factors but the fact of the matter is that this has been showing for some time already and, at this point, bears haven’t been able to force any meaningful breaks. The surge in treasury yields this week was particularly significant but Gold prices didn’t show much for bearish reaction to that theme.

When something like this shows up, when the backdrop is seemingly bearish but price action is not matching, that usually means that something else is going on and I’m not entirely sure what it is. This may have something to do with risk aversion themes as there’s a number of other peculiarities showing but, I don’t have any evidence of that yet so I have to rely on the simple deduction that something is amiss.

At this point there’s not yet enough bullish indication to institute a bullish technical forecast; however that could be around the corner depending on how gold prices behave over the next couple of weeks. But, perhaps more important than time here is price, with the zone from 1962 to 1967 taking on some importance as this represents the recent range high. A breach of that zone opens the door for another run at the 2k level.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Gold set to eke out weekly gain despite rising Treasury yields, dollarGold futures trade little changed Friday, on track to eke out a small weekly gain despite a rise in Treasury yields and the dollar, which are typically seen...
Source: MarketWatch - 🏆 3. / 97 Read more »

Gold Price Forecast: XAU/USD Sustained by Real Yields and Safe-Haven DemandA robust labor market and solid growth data gives a string foundation for the Fed to be aggressive in its fight with inflationary pressures. Get your market update from WVenketas here:
Source: DailyFX - 🏆 305. / 63 Read more »

Gold Price Forecast: XAU/USD, nothing new here, but a breakout is nighThe gold price is stuck in familiar ranges, bouncing around between a daily resistance and support channel. However, like a coil, the build-up of ener Ross_Burland 不错的分析
Source: FXStreetNews - 🏆 14. / 72 Read more »

Gold Price Forecast: XAUUSD challenging the upper end of its rangeXAUUSD Current Price: $1,935.16 Central banks’ hawkishness and the Eastern European crisis undermine the market’s mood. Stocks turned red, with Wall
Source: FXStreetNews - 🏆 14. / 72 Read more »

Gold Price Forecast: Prices Probe Support as FOMC Minutes, China CPI NearGold looks stagnant after a surging US Dollar dragged prices lower. The upcoming FOMC Minutes and Chinese CPI data may spur some movement in the yellow metal as inflation expectations ease. Get your market update from FxWestwater here:
Source: DailyFX - 🏆 305. / 63 Read more »

Gold Price Forecast: XAU/USD bulls move in, but have a mountain to climbAt $1,934.15, the gold price, XAU/USD, is bid in Asia, moving in towards the New York session highs just a few dollars away at $1,937. The US dollar c
Source: FXStreetNews - 🏆 14. / 72 Read more »