The gold price is facing pressure once more as Friday's trading session approaches, largely due to the US Dollar's ongoing strength supported by increasing Treasury yields.
Overnight, the DXY (USD) index reached its peak since early June, coinciding with spot gold touching its lowest point since March, briefly hitting US$1885 per ounce.
The substantial rise in Treasury yields led to the 10-year benchmark bond reaching 4.328% during the North American session. This was marginally below the 4.335% recorded in October of the previous year, which marked the highest yield on that note since 2007.
GOLD
BUY LIMIT 1892-1893💯
✅ TP1: 1900
✅ TP2: 1905
🛑 SL: 1887
Overnight, the DXY (USD) index reached its peak since early June, coinciding with spot gold touching its lowest point since March, briefly hitting US$1885 per ounce.
The substantial rise in Treasury yields led to the 10-year benchmark bond reaching 4.328% during the North American session. This was marginally below the 4.335% recorded in October of the previous year, which marked the highest yield on that note since 2007.
GOLD
BUY LIMIT 1892-1893💯 ✅ TP1: 1900
✅ TP2: 1905
🛑 SL: 1887
