Gold Holds Steady Above Recent Lows as Treasury Yields Soar
Gold prices managed to stabilize above recent lows on Tuesday, maintaining their resilience as a non-yielding asset, even as U.S. Treasury yields surged to levels not seen in nearly 16 years. Investors were closely watching the central bankers' meeting this week for any hints regarding future interest rates.
At 0520 GMT, spot gold, often represented as GOLD, held steady at $1,895.70 per ounce, staying slightly above the five-month low of $1,883.70 reached last week. Meanwhile, U.S. gold futures, also denoted as GOLD, saw a modest increase of 0.1%, reaching $1,924.60.
This followed a week marked by consecutive losses, with gold managing to close 0.3% higher on Monday, marking its strongest performance in over a fortnight.
GBPUSD
SELL 1900 -1902🕯
✅ TP1: 1897
✅ TP2: 1892
⚠️ SL: 1906
At 0520 GMT, spot gold, often represented as GOLD, held steady at $1,895.70 per ounce, staying slightly above the five-month low of $1,883.70 reached last week. Meanwhile, U.S. gold futures, also denoted as GOLD, saw a modest increase of 0.1%, reaching $1,924.60.
This followed a week marked by consecutive losses, with gold managing to close 0.3% higher on Monday, marking its strongest performance in over a fortnight.
GBPUSD
SELL 1900 -1902🕯 ✅ TP1: 1897
✅ TP2: 1892
⚠️ SL: 1906
