GOLD: Will continue to decrease

In the trading session earlier this week, world gold prices were strongly influenced by the rise of the USD and rising bond yields. Rising US Treasury yields hit multi-year highs, increasing the opportunity cost of holding non-yielding assets like gold, while the US Dollar Index hit a new high in 6.5 months reduces the attractiveness of this precious metal to buyers holding other currencies.

Experts say that, in the short term, the hawkish stance of the US Federal Reserve (Fed) at the recent monetary policy meeting will continue to be a catalyst to push bond yields and the USD up. , putting great pressure on precious metals.

Comment:

Gold is returning to the uptrend after hitting the resistance zone