#FOMCWatch We have reached our ultimate target of $4,480.
Treasury buybacks triggered a V-shaped reversal; the Treasury Department announced it would double the scale of long-term Treasury buybacks—increasing the amount per operation from $2 billion to $4 billion—effective September 9.
This move effectively amounts to the Treasury stepping in directly to suppress long-end yields: following the news, the 30-year yield plunged from 5.28% to 5.19%, while the 10-year yield fell below 4.65%.
Gold prices seized this lifeline, surging directly above the $4,480 level.
Moving forward, the key level to watch is the $4,500 resistance. If the price breaks above $4,500 again, the bullish outlook remains, targeting the $4,520–$4,540 range.
If the price faces resistance at $4,500 and pulls back, we will continue to monitor the $4,480 support level; a drop below $4,480 would shift the outlook to bearish, targeting $4,450.
If the price finds support at $4,480, we will maintain a long position, targeting levels above $4,500.$PORTAL $CFG $XAU
Treasury buybacks triggered a V-shaped reversal; the Treasury Department announced it would double the scale of long-term Treasury buybacks—increasing the amount per operation from $2 billion to $4 billion—effective September 9.
This move effectively amounts to the Treasury stepping in directly to suppress long-end yields: following the news, the 30-year yield plunged from 5.28% to 5.19%, while the 10-year yield fell below 4.65%.
Gold prices seized this lifeline, surging directly above the $4,480 level.
Moving forward, the key level to watch is the $4,500 resistance. If the price breaks above $4,500 again, the bullish outlook remains, targeting the $4,520–$4,540 range.
If the price faces resistance at $4,500 and pulls back, we will continue to monitor the $4,480 support level; a drop below $4,480 would shift the outlook to bearish, targeting $4,450.
If the price finds support at $4,480, we will maintain a long position, targeting levels above $4,500.$PORTAL $CFG $XAU