Gold market pressure builds as fiscal deficits, heavy Treasury issuance and oil risk keep long yields elevated despite weaker jobs and contained inflation.
Gold pulls back from major resistance barrier on Tuesday, as we continue to see a lot of interest rate noise as well.
Gold: Price holds despite higher yields – Commerzbank
Gold expected to trade range-bound despite increasing bets of a Fed rate pause
Gold managed to hit a rebound towards 4436 before settling lower. As we see from the chart, the Intraday levels show a support trend around 4382, which still holds the chance for another rebound.
Gold: Higher-rate risk to keep prices range-bound – TD Securities
Gold falls as rising US Treasury yields strengthen the US Dollar
Gold Price Forecast: XAU/USD eases below $4,400 as US yields rally
Gold dipped below 4,400 USD per ounce on Tuesday, reversing earlier gains. Pressure on the metal intensified amid a broader correction in the metals market and profit-taking following a strong rally.
The picture in Gold has become more complicated: What is happening today
Gold is stuck in a five day sideways range from 4310 to 4449 [Video]
Gold pulls back amid Middle East tensions and Fed rate uncertainty