Gold Price Forecast: XAU/USD drops towards 200-SMA retest as yields underpin US Dollar rebound Gold XAUUSD YieldCurve RiskAppetite Commodities
, the precious metal justifies the firmer US Dollar and risk-off mood in the market amid a sluggish Thursday. bounces off a one-week low to 104.60 at the latest, up 0.17% intraday as the greenback bulls trace strong US Treasury bond yields, as well as cheer the sour sentiment amid hawkish Federal Reserve talks.
Moving on, updates from the G20 could join central bankers’ comments and the second-tier data from the US to entertain theGold price stays depressed after reversing from a three-week-old horizontal resistance area, around $1,844-48. The pullback moves also coincide with the RSI retreat from the overbought territory and bearish MACD signals to keep XAU/USD sellers hopeful.
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