Spot Gold accelerated its slump after losing the $1,900 mark, as the US Dollar soared in a risk-averse environment. XAU/USD trade below $1,880 at lev
els last seen in March this year as financial markets monitor United States developments. The country is on the brink of a federal shutdown after House Republicans rejected a bipartisan bill advancing in the Senate. If Congress disagrees on funding, millions of federal employees will be furloughed starting next Saturday.
Meanwhile, stock markets extend their bearish routes amid concerns central banks will maintain rates higher for longer, which increases the risks of economic downturns. Government bond yields soared, with the 10-year Treasury note yielding as much as 4.59%, its highest in over fifteen years. The 2-year note, in the meantime, offers 5.11%, not far from the multi-year peak of 5.
In the near term, and according to the 4-hour chart, XAU/USD is extremely oversold yet without signs of changing course. Technical indicators head south at extreme levels, with the Relative Strength Index indicator currently at 15. At the same time, Gold develops roughly $35 below a sharply bearish 20 SMA, which dips below also bearish longer ones.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Gold Price Forecast: XAU/USD tests key support as bearish pressure mountsXAU/USD turned downwards on Monday, erasing Friday's recovery. The yellow metal is near last week's lows, facing pressure from a firm US Dollar and hi
Les mer »
Gold Price Forecast: XAU/USD struggling to hold on to $1,915The XAU/USD took a step lower on Monday, knocking into $1,915.00 and seeing little relief pressure as the US Dollar (USD) catches bids across the boar
Les mer »
Gold Price Forecast: XAU/USD remains under selling pressure above $1,900 amid the stronger USDGold price (XAU/USD) struggles to gain around $1,915 during the early Asian session on Tuesday. Gold price is weighed by a rally in US Dollar (USD) an
Les mer »
Gold Price Forecast: XAU/USD hovers near $1,910 with a negative bias, focus on US macrosGold price moves downward, trading lower around $1,910 per troy ounce during the Asian session on Tuesday. The US Dollar (USD) continues to strengthen
Les mer »
Gold Price Forecast: XAU/USD bears seem unstoppable, target $1,900Gold price is miring in one-week lows just above the $1,910 round figure early Tuesday. The United States Dollar (USD) continues to follow the US Trea
Les mer »
Gold Price Forecast: XAU/USD resilient against the sharp rise in yieldsGold prices weathered the Fed’s hawkish signal in the latest meeting. Strategists at TD Securities analyze the yellow metal’s outlook. Economic data w
Les mer »