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U.S. Real Yields Weigh Early In The Week

GOLD

Gold has stuck to a narrow range in Asia-Pac dealing, last sitting just above $1,860/oz, little changed on the day. Monday’s shunt higher in U.S. real yields, which saw 10-Year real yields register a fresh cycle high and the first close in positive territory during the current cycle, allowed bears to force bullion below last week’s low. They now look to the 76.4% retracement of the Jan 28-Mar 8 rally ($1,848.8/oz) as the next area of meaningful technical support as the bearish threat intensifies

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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