Gold (XAUUSD) and Silver (XAGUSD) Rebound from Key Support as US Dollar Weakens

From fxempire.com

Gold (XAUUSD) prices rise after bouncing from strong support, as the US Dollar weakens from key resistance. The decline in the US Dollar Index (DXY) below 100 reflects growing investor concerns about US fiscal health. Last week’s downgrade by Moody’s from AAA to Aa1 added further pressure, highlighting increasing debt risks. As a result, demand for safe-haven assets like gold has strengthened. On the other hand, US Treasury yields (TNX) also rose, with the 10-year yield reaching 4.47%. Rising yields would typically pressure gold prices; however, uncertainty around Fed policy and US debt has kept gold supported. ... (full story)