Gold (XAU/USD) pulls up and reverses from its new record high of $2,790 on Thursday.
Gold edges lower after topping at a new record high of $2,790 on Thursday. The yellow metal sees downside pressure from rising US Treasury bond yields following stronger US employment data. Hopes of a Middle East ceasefire and the probability of a Trump victory are also weighing on Gold . Gold pulls up and reverses from its new record high of $2,790 on Thursday. The precious metal is pulling back partly due to rising US Treasury bond yields, which reflect elevated interest rate expectations.
The US Dollar Index is down over a tenth of a percent on Thursday – down almost a third of a percent overall this week so far – trading just below 104.00. Technical Analysis: Gold pulls back after breaking to new highs Gold has broken out of the mini range it was stuck in between $2,708 and $2,758 and risen up to a new all-time high of $2,790 on Wednesday.
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