Brian, hello everyone!
After a continuous decline in gold prices, today we are witnessing a trading session where gold has slightly increased to $1971, up by about $6.6 compared to yesterday.
However, the USD and US government bond yields are still rising to the highest level in 16 years, increasing the opportunity cost of holding gold and causing investors to sell more.
The rapid increase may be restrained when facing resistance at $1900, as the current market is still unfavorable for gold prices
After a continuous decline in gold prices, today we are witnessing a trading session where gold has slightly increased to $1971, up by about $6.6 compared to yesterday.
However, the USD and US government bond yields are still rising to the highest level in 16 years, increasing the opportunity cost of holding gold and causing investors to sell more.
The rapid increase may be restrained when facing resistance at $1900, as the current market is still unfavorable for gold prices
Note
good luckNote
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.