$1,915 support amid firmer US Treasury bond yields
Gold price (XAU/USD) stays depressed around $1,935 after begining the trading week with mild losses. That said, the XAU/USD manages to keep the bears on board amid technical breakdown, as well as the firmer prints of the United States Treasury bond yields, despite a sluggish US Dollar ahead of this week's inflation data from the US and China. Also an absence of major macros and the market's inaction limits the yellow metal's imeediate moves ahead of top-tier data/events.
Gold Price retreats from five-week-old rissing support-turned-resistance, as well as the 200-Exponential Moving Average (EMA), around $1,950 by the press time.
Addind credence to the downside bias about the XAU/USD price could be the bearish signals from the Moving Average Convergence and Divergence (MACD) indicator, as well as descending Relative Strength Index (RSI) line, placed at 14, not oversold.
Gold price (XAU/USD) stays depressed around $1,935 after begining the trading week with mild losses. That said, the XAU/USD manages to keep the bears on board amid technical breakdown, as well as the firmer prints of the United States Treasury bond yields, despite a sluggish US Dollar ahead of this week's inflation data from the US and China. Also an absence of major macros and the market's inaction limits the yellow metal's imeediate moves ahead of top-tier data/events.
Gold Price retreats from five-week-old rissing support-turned-resistance, as well as the 200-Exponential Moving Average (EMA), around $1,950 by the press time.
Addind credence to the downside bias about the XAU/USD price could be the bearish signals from the Moving Average Convergence and Divergence (MACD) indicator, as well as descending Relative Strength Index (RSI) line, placed at 14, not oversold.
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