The previous dip earlier this month was held at the $1,900 mark but with it potentially giving way today, it raises fresh concerns about gold's recent resilience. The August lows around $1,885 will be the next big line in the sand to watch out for as a break there leaves little in the way of a steeper decline in gold.
10-year yields in the US are still hovering around 4.50% to 4.55% and that is keeping broader market sentiment on edge, with gold being no exception to that.
Month-end and quarter-end flows could still muddy things up this week but in the bigger picture, if yields continue to stay higher, this little technical blip lower could end up being a key catalyst for the next correction lower in gold prices. Watch this space.
10-year yields in the US are still hovering around 4.50% to 4.55% and that is keeping broader market sentiment on edge, with gold being no exception to that.
Month-end and quarter-end flows could still muddy things up this week but in the bigger picture, if yields continue to stay higher, this little technical blip lower could end up being a key catalyst for the next correction lower in gold prices. Watch this space.