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Bullion Lower Again Today As USD And US Yields Rise Further

GOLD

Gold prices are lower again today as the USD index is up 0.1% and Treasury yields are higher after stronger-than-expected US PCE inflation on Friday. Bullion fell 0.6% on Friday and is down another 0.1% today to $1809/oz, close to the intraday low and late December levels.

  • Gold has been moving lower after reaching an intraday high of $1814.22. Its low was $1806.79. It is now approaching its 100-day simple moving average. Trend conditions are now bearish for the yellow metal.
  • Later the Fed’s Jefferson discusses inflation and US January durable goods orders data are published. Headline orders are projected to decline 4% m/m with the core down 0.1%. There is also the EC’s February survey.
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