Gold price surrenders to US bond yields rise
Investor sentiment remained affected by the ongoing struggles faced by regional banks in the US. Additionally, the XAU/USD saw a decrease in demand due to a rise in the US Treasury bond yields. The yield on the US 10-year Treasury bond increased by four basis points, currently standing at 3.447%. However, it is still lower than the levels seen at the beginning of the week, which were at 3.568%.
Currently, the possibility of a 25 basis points rate hike by the US Federal Reserve in May has reduced. The probability of this happening is 76.1%, which is lower than the previous week's 83.3% chance.
Gold is predicted to drop after hitting 2000!
Plan trade in the intro ♥
Investor sentiment remained affected by the ongoing struggles faced by regional banks in the US. Additionally, the XAU/USD saw a decrease in demand due to a rise in the US Treasury bond yields. The yield on the US 10-year Treasury bond increased by four basis points, currently standing at 3.447%. However, it is still lower than the levels seen at the beginning of the week, which were at 3.568%.
Currently, the possibility of a 25 basis points rate hike by the US Federal Reserve in May has reduced. The probability of this happening is 76.1%, which is lower than the previous week's 83.3% chance.
Gold is predicted to drop after hitting 2000!
Plan trade in the intro ♥
Trade active
Plan trade in the introTrade closed: stop reached
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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.