Gold price dips as US Treasury yields recover after buyback news
Gold edged lower on Thursday as US Treasury yields trimmed earlier losses and the dollar firmed, pulling XAU/USD back to $4,509 from a daily high of $4,540.
Gold Market
Gold edged lower on Thursday as US Treasury yields trimmed earlier losses and the dollar firmed, pulling XAU/USD back to $4,509 from a daily high of $4,540.
Gold rose 4.35% on 19 August, its biggest daily gain since February. The rally reflects traders pricing in US dollar debasement risk, not lower bond yields.
Gold retreated from its highest level since early June as hawkish FOMC minutes and US‑Iran tensions lifted the dollar. Falling bond yields may cap the downside.
Gold is approaching $4,500 for the first time in over two months as the US dollar weakens. The US Treasury’s decision to double debt repurchases has weighed on the greenback, supporting bullion.
Gold pulls back after failing to break $4,435 resistance. Middle East tensions and Fed rate uncertainty weigh. Wednesday's Fed minutes could decide the next move.
Gold has broken through the $4,300 resistance level, according to technical analysis in the latest Gold SWOT report. The next major price threshold is now $4,500.
Gold dipped under $4,400 per ounce on Tuesday, reversing earlier gains as profit-taking and a broader metals correction outweighed support from diminished Fed tightening expectations.
Gold trades near $4,400 after bouncing from a one-week low of $4,300. Weak US retail sales and consumer sentiment undermine the dollar, but geopolitical tensions and inflation fears cap gains.
Gold pulled back in a three-wave move from recent highs. Technical analysis placed support at 4315.86-4261.32, and price reacted higher from that zone. A break above 4450 would confirm the next leg up.