Gold Technical Analysis: $USD Recovers Against Gold
Enter your emailmarket to rebound upwards, reaching the $1820 resistance before the settling around $1805 as of this writing.
In recent weeks, investors have been taking on US government debt, which has dragged down Treasury yields, which may not bode well in an inflationary environment. The US Treasury market was mostly in the red on Tuesday, with the 10-year bond yield dropping to 1.462%. One-year bond yields rose to 0.302%, while 30-year yields fell to 1.864%.
As the US dollar struggles for direction ,the US Dollar Index , which measures the performance of the US currency against a basket of major rival currencies, fell to 96.00. The US Dollar Index had a great year advancing close to 7%. A weak profit is also beneficial for the metals market because it makes it cheaper to buy dollar-denominated commodities for foreign investors.
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