Gold Price News and Forecast: XAU/USD technical set up screams sell
|Gold Price Analysis: XAU/USD drops to fresh eight-month lows, inching closer to $1750 level
Gold edged lower through the early European session and dropped to fresh eight-month lows, around the $1756 level in the last hour.
The precious metal added to the previous day's heavy losses and witnessed some follow-through selling for the second consecutive session on Friday. The overnight slump was sponsored by a sudden spike in the US Treasury bond yields, which tends to drive flows away from the non-yielding yellow metal. Read more...
Gold Price Analysis: XAU/USD technical set up screams sell
Gold (XAU/USD) hits four-day lows at $1756 and risks a drop below $1750 amid bearish technical setup, FXStreet’s Dhwani Mehta reports.
“Should the sell-off in the Treasury yields accelerate, it could drag global stocks lower while reviving the haven demand for the greenback. Such a move could limit the bounce in the metal, paving the way for the next leg lower.” Read more...
Gold Price Analysis: XAU/USD hangs near multi-month lows, moves little post-US data
Gold maintained its offered tone through the early North American session and was last seen hovering around the $1763 region, just above eight-month lows touched earlier this Friday.
The precious metal extended this week's rejection slide from 200-day EMA and witnessed some follow-through selling on the last trading day of the week. The downfall was exclusively sponsored by a strong bid tone surrounding the US dollar, which tends to drive flows away from the dollar-denominated commodity. Read more...
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