Gold Price News and Forecast: XAU/USD extends the heaviest drop in three weeks below $1,800
|Gold Price Analysis: XAU/USD charts minor recovery as the US bond yield drops
Gold is trading near $1,773 per ounce, having put in a low of $1,765 in early Asia. The minor bounce could be associated with the US 10-year Treasury yield's pullback from the 12-month high of 1.55% to 1.5%.
Gold's 15-minute chart shows a bullish divergence of the Relative Strength Index. Meanwhile, long tail attached to the current and the previous 4-hour candle signals bear fatigue.
Gold Price Analysis: XAU/USD extends the heaviest drop in three weeks below $1,800
Gold prices drop to $1,767, down 0.13% intraday, during Friday’s Asian session. In doing so, the yellow metal tracks the corrective pullback in S&P 500 Futures after the Treasury yields roiled global markets the previous day.
Although the Federal Reserve policymakers signaled that they are neither concerned nor should be about the jump in the Treasury yields, the same triggered market havoc and propelled the US dollar index (DXY) on Thursday.
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