Gold Prices Retreat Below $4,400 Amid Oil Surge and Yield Rally
Gold prices have retreated below $4,400 as oil prices surge and global yields rally ahead of key central bank decisions.
The US Dollar's weakness has kept gold within its recent trading range, but analysts at TD Securities believe the precious metal still has room to appreciate due to renewed dollar-debasement and central bank buying.
The technical picture for XAU/USD is neutral-to-bearish, with momentum indicators showing a trend lower than 50. The Relative Strength Index (14) hovers around this midline, while the Moving Average Convergence Divergence (MACD) remains below zero.