Gold nears $1800 reinforced by the 10yr US Real Yields break lower – Credit Suisse

FXStreet Team FXStreet

Gold has resumed its core bull trend reinforced by the expected break lower by 10yr US Real Yields as the yellow metal trades at near $1790, gaining +0.42% on a day. Strategists at Credit Suisse mark resistance at $1796/1803.

Key quotes

“Gold has seen its expected break higher from its range above $1765 to confirm a resumption of its core bull trend with resistance seen at $1796/1803 next.”

“Support at $1720 now ideally holds to keep the immediate risk higher. Only back below $1671 though would set a near-term top.”

“10yr US Real Yields have seen their expected break lower from their sideways range, with key resistance seen at -.85%, then -1.01%, which reinforces the break higher and resumption of the core bull trend in gold.”

“Big picture, we continue to eventually look for new highs above $1921, with resistance then seen next at $2000, then $2075/80.”

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

AUD/USD eyes 0.70 as China GDP surprise powers rally

The Australian Dollar registers two days of consecutive gains versus the US Dollar, trading at 0.6980, up more than 0.50% as risk appetite improved, while the Aussie was supported by strong data on China’s GDP and Retail Sales.

USD/JPY struggles near 158.00 amid hawkish BoJ, subdued USD

USD/JPY remains defensive near 158.00 in the Asian session on Monday, as the US Dollar remains depressed near a two-week low amid the recent decline in US bond yields. Furthermore, looming intervention risks underpin the Japanese Yen and weigh on the pair amid BoJ Governor Kazuo Ueda's hawkish remarks. However, Fed rate-hike bets and geopolitical uncertainties could limit USD losses and the major.

Gold drops to daily lows below $4,150

Gold builds on Friday’s retracement and slips back below the $4,150 mark per troy ounce on Monday. The better tone in the US Dollar and a decent bounce in US Treasury yields across the curve keep the yellow metal under pressure for now.

Multicoin’s top holding is Hyperliquid as HPC pushes SEC on airdrop rules

Multicoin Capital has identified Hyperliquid as the largest holding in its hedge fund, reaffirming its commitment to crypto investments despite growing interest in artificial intelligence.

The US Dollar fell. Gold didn't rally. That tells you everything

Gold is struggling to capitalize on a weaker US Dollar, after repeatedly failing to establish itself above the $4,200 level. The precious metal remains confined to a relatively narrow trading range despite a combination of developments that would normally support higher prices.

The US Dollar fell. Gold didn't rally. That tells you everything

Gold (XAU/USD) is struggling to capitalize on a weaker US Dollar (USD), after repeatedly failing to establish itself above the $4,200 level. The precious metal remains confined to a relatively narrow trading range despite a combination of developments that would normally support higher prices.