Awaiting Breakout as Help Holds for Now
Gold Price Evaluation & Information
- Gold Worth Outlook: Eyes on the Yield
- Fed’s Powell and Brainard to Downplay Fed Taper Speak
- Gold Technical Outlook Stays Weak
Gold Worth Outlook: Eyes on the Yield
Yesterday’s robust US treasury auction could have put a short-term high in US yields as US 10s pullback from a excessive of 1.18%. In flip, US actual yields have additionally halted its climb, which has been among the many key directional components for the dear steel. Remember, that gold and actual yields are extremely correlated (30-day correlation at -0.78), indicated by the graph beneath. Subsequently, for a view on the near-term outlook for gold, you will need to watch the bond market. That mentioned, there’s additionally the USD facet of the equation, which has additionally capped upside in gold, thus costs have consolidated on the low finish of its current vary.
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