XAU/USD hangs near two-week lows, below $1835 level

Gold Price Analysis: XAU/USD remains confined in a range, moves little post-ADP

Gold seesawed between tepid gains/minor losses through the early European session and consolidated the overnight slide to over two-week lows.

The underlying bullish sentiment weighed on the safe-haven XAU/USD and kept a lid on the early uptick to the $1845 region. Apart from this, a modest uptick in the US Treasury bond yields prompted some selling around the non-yielding yellow metal. Read more…

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Gold Price Analysis: XAU/USD hangs near two-week lows, below $1835 level

Gold struggled to capitalize on its intraday uptick and refreshed daily lows, around the $1835-34 region during the early European session.

The precious metal gained some positive traction during the first half of the trading action on Wednesday and moved away from over two-week lows, around the $1830 region set in the previous session. The uptick, however, lacked any strong follow-through and fizzled out rather quickly near the $1845 area. Read more…

Gold: Low real interest rates are here to stay, supporting XAU/USD – ANZ

US 10y yield is holding above 1% while XAU/USD is trading around $1,850/oz. The rising US 10y yield and the outperformance of risky assets have weighed on the safe haven appeal of gold. Recent strength in the USD has created headwinds for the precious metals market. However, rising inflation expectations should provide some support in the medium-term, strategists at ANZ Bank appraise.

Key quotes: “The rising US 10y yield and the risk-on tone of the market have been subduing investor interest in gold for the past few months. Talks around tapering of asset purchases by the central banks have also dented market sentiment.” Read more…