The price of gold has experienced a reversal, dropping below $1,950 after briefly surpassing $1,970 earlier in the day. This decline can be attributed to the benchmark 10-year US Treasury bond yield, which is currently rising and approaching 3.8%. The increase in bond yield comes as a result of the recent drop in US CPI data, which has had a negative impact on the XAU/USD (gold/US dollar) pairing.
The price of gold took a downward turn, slipping below the $1,950 mark after briefly surpassing $1,970 earlier in the day. This reversal was driven by the sharp rise in the benchmark 10-year US Treasury bond yield, which is now approaching 3.8%. The surge in bond yield was triggered by the weaker-than-expected US CPI data, putting pressure on the XAU/USD (gold/US dollar) pair.
Nicola, CEO of Forex48 Trading Academy
The price of gold took a downward turn, slipping below the $1,950 mark after briefly surpassing $1,970 earlier in the day. This reversal was driven by the sharp rise in the benchmark 10-year US Treasury bond yield, which is now approaching 3.8%. The surge in bond yield was triggered by the weaker-than-expected US CPI data, putting pressure on the XAU/USD (gold/US dollar) pair.
Nicola, CEO of Forex48 Trading Academy
📈 Nicola | EdgeTradingJourney
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
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.
📈 Nicola | EdgeTradingJourney
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
Documenting my path to $1M in prop capital through real trading, discipline, and analysis.
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.