Gold Price Forecast: XAU/USD eyes weekly gain as United States Treasury bond yields retreat Gold XAUUSD SEO YieldCurve Fed
Hopes of China’s strong economic rebound, US-China trade deal and mixed Federal Reserve talks seem to favor XAU/USD run-up.
On Thursday, US 10-year Treasury bond yields rose to a fresh high since early November 2022 while piercing the 4.0% threshold whereas the two-year counterpart rallied to the highest levels since 2007 to 4.94%. However, the bond coupons retreated from their multi-month high as of late. That said, the 10-year coupons drop two basis points to 4.05% while its two-year counterpart seesaws around 4.89% by the press time.
China’s Caixin Services PMI traced the latest activity data for the dragon nation while printing 55.00 figures for February, versus 50.0 market forecasts and 52.9 previous readings. It’s worth noting that the bullish bias of the Moving Average Convergence and Divergence indicator joins the recently firmer Relative Strength Index line, placed at 14, to keep buyers hopeful.
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