Gold Price Forecast: XAU/USD refreshes yearly low near $1,660 as strong yields propel US dollar – by anilpanchal7 Gold XAUUSD YieldCurve Recession Fed
Yields reverse Asian session weakness, allowing DXY to cross weekly resistance line.
That said, the precious metal witnessed a pullback from the yearly low earlier in the day amid the market’s inaction. However, the latest recovery in the US Treasury bond yields seemed to have underpinned the US Dollar Index and weighed on the XAU/USD prices. Amid these plays, S&P 500 Futures drop 0.85% to attack a weekly low while equities in the UK and Europe open in the red.
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