XAUUSD: Basic analysis!
During the early hours of Tuesday's Asian session, XAU/USD is attempting to continue its upward momentum, hovering around 1,921. The pair is being supported by a weakening US Dollar (USD), which has experienced a pullback. However, the gains of the precious metal are being limited by the positive performance of US Treasury yields.
The US Dollar Index (DXY) is currently struggling to rebound from losses and is trading lower at around 104.60. This can be attributed to the strong performance of United States (US) bond yields. At present, the yield on the 10-year US Treasury bond stands at 4.30%.
The US Dollar Index (DXY) is currently struggling to rebound from losses and is trading lower at around 104.60. This can be attributed to the strong performance of United States (US) bond yields. At present, the yield on the 10-year US Treasury bond stands at 4.30%.
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