Gold Futures Extend Losses on Rising Treasury Yields
Gold futures finished below $1,900/oz Wednesday, falling for the eighth straight session to its lowest settlement in five months, pressured by higher U.S. Treasury yields and a firm dollar.
Treasury yields finished higher across the curve, including a 4 bps increase on the benchmark 10-year yield to 4.26%, while the dollar index rose 0.2%, making bullion more expensive for overseas buyers.
Meanwhile, the Federal Reserve's July meeting minutes showed most senior officials believe additional monetary policy tightening may be necessary to tame inflation.
XAUUSD
BUY LIMIT 1891-1892💯
✅ TP1: 1900
✅ TP2: 1905
🛑 SL: 1889
Treasury yields finished higher across the curve, including a 4 bps increase on the benchmark 10-year yield to 4.26%, while the dollar index rose 0.2%, making bullion more expensive for overseas buyers.
Meanwhile, the Federal Reserve's July meeting minutes showed most senior officials believe additional monetary policy tightening may be necessary to tame inflation.
XAUUSD
BUY LIMIT 1891-1892💯 ✅ TP1: 1900
✅ TP2: 1905
🛑 SL: 1889
