Gold Price Forecast: XAU/USD stays defensive above $1,900 as Fed bets reverberate ahead of US inflation Gold XAUUSD YieldCurve Fed Inflation
Gold price struggles to keep the early Asian session pullback from five-week high, picks up bids of late.
The precious metal’s latest losses could be linked to the US Dollar’s corrective bounce while tracing the US Treasury bond yields. US 10-year Treasury bond yields print mild gains of around 3.58%, after bouncing off the monthly bottom of 3.418%, whereas the two-year counterpart rebounds from the lowest levels since September 2022 to print mild gains of around 4.19% by the press time. It should be noted that the US two-year Treasury bond yields dropped the most since 1987 the previous day.
Also likely to weigh on the Gold price could be the latest fears surrounding China and Russia as the UK, the US and Australia over the nuclear submarine issues while Washington meets Taiwan's leader. However, hopes of more investment in China and the recently increasing hopes of the dragon nation’s gradual recovery, as backed by Bloomberg, favor the XAU/USD bulls.
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