Gold Price Analysis: XAU/USD inches closer to $1750 amid falling Treasury yields
Gold (XAU/USD) is consolidating Tuesday’s 1% rally in opening trades this Wednesday, sitting at the highest levels in two weeks above $1740.
Gold remains poised to extend the recent rally, with eyes set on the $1750 key barrier, as the US dollar nurses losses across the board while holding near ten-day lows amid a rout in the Treasury yields across the curve.
Gold analysis: Aims at March high levels
Last week, the yellow metal broke the resistance zone near 1,725.00 and surged above it. Afterwards, the zone was confirmed as support before the surge of the commodity price resumed.
On Tuesday, the bullion's price was heading to the resistance zone above the 1,745.00 level. This zone provide the metal with resistance during the second part of March. Namely, it reversed an attempted recovery.
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