$XAU
US Treasury yields sittin' at their highest since 2007 (around 5.3%) are makin' it right expensive to hold gold since it don't pay no yield, innit?
Driven by a proper strong Greenback and chatter about the Fed raisin' rates again
The news says this pressure ain't goin' nowhere, even with a few dodgy data points
$XAU
"Gold’s under proper pressure at 4144, well below the EMA200 at 4184, with short-term moving averages all bunched up inside a tight Bollinger Band
Shows a solid downtrend, this does, after it failed to break above 4160-4200
"Most likely outcome? Drop down to 4130, then 4100 as key support, with a real risk of crashin' towards 4000 if dem yields stay sky-high
$XAU
#GOLD_UPDATE #Market_Update
US Treasury yields sittin' at their highest since 2007 (around 5.3%) are makin' it right expensive to hold gold since it don't pay no yield, innit?
Driven by a proper strong Greenback and chatter about the Fed raisin' rates again
The news says this pressure ain't goin' nowhere, even with a few dodgy data points
$XAU
"Gold’s under proper pressure at 4144, well below the EMA200 at 4184, with short-term moving averages all bunched up inside a tight Bollinger Band
Shows a solid downtrend, this does, after it failed to break above 4160-4200
"Most likely outcome? Drop down to 4130, then 4100 as key support, with a real risk of crashin' towards 4000 if dem yields stay sky-high
$XAU
#GOLD_UPDATE #Market_Update
