Forex
Gold Prices Tumble Amid Rising Yields and Strong Dollar
Gold prices declined by 2.13% last week and closed on Friday at $4,285. The 10-year Treasury yield surged above 5%, while the US dollar gained 0.82%. Although both yields and the dollar eased slightly on Friday, gold found little relief.
The upcoming PCE inflation report on Wednesday could reveal whether this pressure will continue to affect gold prices. According to the technical analysis of the article's author, real yields and a weaker dollar are necessary for gold to make a strong recovery.