🚨 GOLD SLIDES BELOW $4,300 AS FED HAWKS TAKE CONTROL
Gold (XAU/USD) came under heavy selling pressure on Wednesday, falling more than 1.5% as rising U.S. Treasury yields and a stronger dollar weighed on the precious metal.
🔑 Key Points:
• Gold fell to around $4,285
• 10-Year U.S. Treasury yield surged to 5.12%
• October Fed hike odds climbed to around 66%
• Strong U.S. PMI data boosted the dollar
• Gold previously reached around $4,369 before reversing lower
📊 Market Insight:
Higher yields and a stronger U.S. dollar are creating short-term pressure on Gold. The $4,235–$4,240 area is an important downside zone, while $4,365–$4,370 is the key upside area to reclaim.
👀 Levels to Watch:
🔻 Support: $4,235–$4,240
🔺 Resistance: $4,365–$4,370
🎯 Higher resistance: $4,400
#Gold #goldprice #Fed #TreasuryYields #Commodities $XAU
Gold (XAU/USD) came under heavy selling pressure on Wednesday, falling more than 1.5% as rising U.S. Treasury yields and a stronger dollar weighed on the precious metal.
🔑 Key Points:
• Gold fell to around $4,285
• 10-Year U.S. Treasury yield surged to 5.12%
• October Fed hike odds climbed to around 66%
• Strong U.S. PMI data boosted the dollar
• Gold previously reached around $4,369 before reversing lower
📊 Market Insight:
Higher yields and a stronger U.S. dollar are creating short-term pressure on Gold. The $4,235–$4,240 area is an important downside zone, while $4,365–$4,370 is the key upside area to reclaim.
👀 Levels to Watch:
🔻 Support: $4,235–$4,240
🔺 Resistance: $4,365–$4,370
🎯 Higher resistance: $4,400
#Gold #goldprice #Fed #TreasuryYields #Commodities $XAU
