Gold Price News and Forecast: XAU/USD prices are stabilising


Gold Price Analysis: XAU/USD under pressure as real yields rocket higher

It’s been another ugly day for spot gold (XAU/USD) prices, which have been under pressure for pretty much the entire session in tandem with US bond markets, which have also been selling off for pretty much the entire session. That bond market sell-off, which has been all that market participants have been talking about, has seen US 5 and 7-year bond yields surge nearly 20bps, the 10-year yield surge nearly 15bps (to above 1.50%) and the 30-year yield rally just over 5bps.

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XAG/USD

Overview
Today last price 27.57
Today Daily Change -0.35
Today Daily Change % -1.25
Today daily open 27.92
 
Trends
Daily SMA20 27.24
Daily SMA50 26.42
Daily SMA100 25.31
Daily SMA200 23.84
 
Levels
Previous Daily High 27.95
Previous Daily Low 27.32
Previous Weekly High 27.96
Previous Weekly Low 26.2
Previous Monthly High 27.92
Previous Monthly Low 24.19
Daily Fibonacci 38.2% 27.71
Daily Fibonacci 61.8% 27.56
Daily Pivot Point S1 27.51
Daily Pivot Point S2 27.11
Daily Pivot Point S3 26.89
Daily Pivot Point R1 28.14
Daily Pivot Point R2 28.36
Daily Pivot Point R3 28.77

 

Gold Price Analysis: US yields sky-rocket, the bears go back to the drawing board

Gold prices have dropped to a fresh low of $1,765 and have traded over 2% lower on the day so far. The US yields have sky-rocketed, raising the prospects of the Federal Reserve needing to step into the bond market with yield curve control, (YCC).

The markets are reacting to a catastrophic tailing in the 7-year auction with the 7Y pricing at 1.195% equating to a 4.1bps tail to the 1.151% when issued.

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