Gold continues to erase yesterday's gains, closes in on $1310
|- US T-bond yields recover on Tuesday.
- US Dollar Index stays flat on the day in the 96.50 region.
- Wall Street set to open the day in the positive territory.
After rising to its highest level since the end of February at $1324.50 yesterday, the XAU/USD pair retraced a large part of Monday's upsurge and was last seen trading at $1313.55, losing more than $8 on the day.
Following the 4-day drop to its lowest level since December of 2017, the 10-year US Treasury Bond yield staged a strong rebound on Tuesday and added more than 1.2% ahead of the NA session to hurt the demand for traditional safe-havens such as the precious metal.
On the other hand, the US Dollar Index remains flat near 96.50 for the second straight day today, allowing risk flows to continue to dominate the markets. Later in the session, housing starts, building permits, and the Conference Board's consumer confidence survey from the U.S. will be looked upon for fresh impetus. Meanwhile, the S&P 500 is up 0.45% on a daily basis to point to a positive start in Wall Street, which is likely to be led by the rate-sensitive S&P 500 Financials Index.
Technical levels to consider
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