High real yields starting to bite Gold?

Higher real rates could be starting to finally weigh on gold prices. Real yields have been elevated on rising nominal interest rates, moderating price pressures/inflation expectations amid the growing perception of the ‘higher-for-longer-rates’ theme.

In contrast, gold has stayed broadly in a range, widening the gap with real yields. Gold is a non-interest, non-coupon-bearing asset, and positive real yields tend to increase the opportunity cost of holding the zero-yielding yellow metal.

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🕯 SELL GOLD | 1945 - 1942

🔴 SL: 1950

🟢 TP1: 1932
🟢 TP2: 1922

🕯 BUY GOLD | 1890 - 1893

🔴 SL: 1885

🟢 TP1: 1903
🟢 TP2: 1913

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🟢Gold reverses its losses as inflation in America rose less than expected.

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World gold price continued its downtrend, USD rose again after US inflation data.

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Spot gold was down 0.4% to $1,906.69 per ounce by 1224 GMT, hitting its lowest level since July 6. U.S. gold futures fell 0.4% to $1,938.60.

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The Most Important Expected Economic Events And Data Today
🟢Building Permits (Jul) 🇺🇸
🟢FOMC Meeting Minutes 🇺🇸

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🕯 SELL GOLD | 1920 - 1917
🔴 SL: 1925

🟢 TP1: 1912
🟢 TP2: 1907

🕯 BUY GOLD | 1890 - 1893
🔴 SL: 1885

🟢 TP1: 1898
🟢 TP2: 1903

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