Hello traders, what do you think about GOLD?
The fear of risk has driven the demand for US government bonds, contributing to the prolonged weakness of US Treasury bond yields across the yield curve. The slight decrease in US Treasury bond yields helps limit the adjustment of Gold prices.
In the coming days, the momentum of the US Dollar and US Treasury bond yields, along with the risk sentiment, will impact Gold price action as traders consider the US New Home Sales data for trading cues.
Gold is supported and has been growing as it touches the bottom of a descending channel. It is expected to decrease back to the channel bottom after reaching the resistance zone.
The fear of risk has driven the demand for US government bonds, contributing to the prolonged weakness of US Treasury bond yields across the yield curve. The slight decrease in US Treasury bond yields helps limit the adjustment of Gold prices.
In the coming days, the momentum of the US Dollar and US Treasury bond yields, along with the risk sentiment, will impact Gold price action as traders consider the US New Home Sales data for trading cues.
Gold is supported and has been growing as it touches the bottom of a descending channel. It is expected to decrease back to the channel bottom after reaching the resistance zone.
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