Free Trial

Spot Down To $1,930/oz As Tsy Yields & USD Firm

GOLD

The move higher in Tsy yields and the USD applies pressure to the yellow metal, leaving spot gold testing $1,930/oz.

  • Technically, a bull cycle remains in play. Recent gains have resulted in a break of resistance at the 50-day EMA - at $1932.2. This strengthens the current bull leg and signals scope for a stronger recovery. Attention is on $1948.3, 61.8% of the Jul 20 - Aug 21 bear leg. It has been pierced, a clear break would open $1963.3, the 76.4% retracement. On the downside, initial firm support lies at $1903.9, the Aug 25 low, with the 20-day EMA ($1,926.1/oz) providing some protection.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.