Gold Price Forecast: XAU/USD appears a ‘buy on dips’ trade amid Middle East strife

Gold price is consolidating its correction from five-month lows, keeping the red near $1,975 early Monday. Gold price fell for the first time in four

Gold price faces rejection just shy of $2,000, extendingcorrection early Monday. US Dollar tracks US Treasury bond yields higher; finds support from a cautious mood. Upside risks remain intact for Gold price amid bullish RSI and geopolitical tensions. trading days, although the downside remains cushioned amid lingering Middle East tensions and a busy United States economic calendar this week.

The supply-demand mismatch for the US Treasuries, amid a budget deficit and looming risks of a government shutdown, keeps pushing the US Treasury bond yields through the roof. The benchmark 10-year US Treasury bond yields are approaching the 5.0% key level once again, checking the upside attempts in the non-interest-bearing Gold price.

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