Spot Gold trades near a fresh muti-month low of $1,813 a troy ounce, with XAU/USD down for a ninth consecutive day. The bright metal is unable to att
XAU/USD Current price: $1,817.83 Market players remain cautious ahead of the United States monthly employment report. Government bond yields are now stable after peaking at multi-year highs. XAU/USD resumed its decline near $1,800, buyers out of the picture for now. ract buyers despite extreme overbought US Dollar conditions. The Greenback lost momentum on Wednesday and remained in corrective mode on Thursday, posting modest losses after reaching multi-month highs across the FX board.
Ahead of the event, US Treasury yields stabilized following rallies to record peaks. The yield on the 10-year Treasury note currently stands at 4.72%, down from a 16-year high of 4.88%, while the 2-year note offers 5.02% after soaring to 5.20% mid-September. Softer Treasury yields prevent the US Dollar from rallying in the near term. XAU/USD short-term technical outlook XAU/USD is bearish, according to technical readings in the daily chart.
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