- Rise in Treasury yields pushes gold down and drags down silver.
- XAU / USD falls to $ 1795, a five-day low.
The oro it broke below $ 1805 and weakened further. After losing $ 1,800, it reached $ 1,795, the lowest level since December 22. The price of an ounce remains in the low zone, under pressure.
Gold’s slide comes as Treasury yields rise and after the XAU / USD rebound failed to settle above $ 1,810 on Tuesday, which was followed by a reversal.
The 10-year rate on the US bond yields 1.49% on Wednesday and the 30-year tranche is at 1.92%, the maximum in a week. This is also supporting the dollar. The advance of the greenback seems limited by the optimism that still remains in the equity markets. Wall Street futures point to a positive open, rising around 0.2%, clinging to recent gains.
Hopefully, the focus will continue on bonds and in what happens with the XAU / USD in the area of $ 1795. Below the next support is $ 1785. Should it return above $ 1800, it would ease the downward pressure.
The data to be released on Wednesday in the US includes the November trade balance and the pending home sales report. No significant impact from these is expected. Thursday will be the turn of the report of requests for unemployment benefits.
Technical levels
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