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Gold Consolidates Recent Move Away From Cycle Cheaps, Lower Tsy Yields Help

GOLD

A relatively rangebound Asia-Pac session, with gold leaning on lower Tsy yields and jittery equity sentiment. Still, gold’s session range remains limited with spot +$5/oz at ~1,665/oz, failing to challenge Friday’s high, consolidating last week’s move away from a fresh cycle base in the process.

  • Technically, the 20-day EMA now provides the next meaningful level of technical resistance. Conversely the cycle low ($1,615/oz) provides initial support and the bear trigger.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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