Gold Price Forecast: XAU/USD bulls eye $1,800, but Taiwan is the wild card – by fx_ross Gold XAUUSD DollarIndex Currencies China
There is room for further upside with the 68.2% Fibonacci meeting prior weekly structure around $1,800. is dipping below $1,770 in the midday US session from $1,788.12 the high that was scored in the New York open. XAU/USD is down some 0.18% on the day currently as it moves in on the lows of the day at $1,767.76.
The yield on the US 10-year note was last seen up 2.732 % after recovering from the lowest since early April and at the bottom of the broadening formation's daily range: said on Monday it would not be intimidated by China. Consequently, US long-term Treasury yields dropped to a four-month low while the US dollar gained against a basket of currencies. Gold also picked up a bid, but that is being demolished with the sudden corrective spike in US yields.
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