Gold Price Forecast: XAU/USD marches firmly towards $1660 on falling US bond yields – by christianborjon Gold XAUUSD Metals Commodities Bonds
Gold price rises as US Treasury bond yields fall due to market players’ expectations of the Fed slowing the pace of tightening.
Gold Price Forecast: Buyers need to clear $1668, to test the 50-DMA; failure will pave the way towards $1617.advances early in the New York session, up by 0.33% courtesy of falling US Treasury yields, while bonds climb amidst the ongoing narrative in the markets that the US Federal Reserve might slow the pace of its rate hikes. All that said, the US Dollar weakened, a tailwind for the yellow metal. Therefore, XAU/USD is trading at $1655 a troy ounce at the time of writing.
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