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Gold (XAUUSD), Silver, Platinum Forecasts – Gold Remains Stuck Near $4000 As Treasury Yields Rise
Gold remains stuck below the resistance level at $4020 – $4040 as traders focus on stronger dollar and rising Treasury yields. Treasury yields gained ground as bond traders bet on hawkish Fed. The yield of 2-year Treasuries settled above the 4.22% level, while the yield of 10-year Treasuries moved above 4.60%. FedWatch Tool indicates that there is a 55% probability that Fed will raise rates by 25 bps in September. The probability of two rate hikes by September is estimated at 9.5%. Hawkish Fed policy outlook is bearish for gold that pays no interest. U.S. dollar gained ground against a broad basket of currencies as ... (full story)
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1 hr 56 min ago
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