Gold advances above $2,060 as US yields push lower
Hello dear friends!
The price of gold continues to trend upward and has reached a new high in several weeks, surpassing $2,060 USD. The yield on the 10-year US Treasury bond remains below 3.9% after weak US PCE inflation data, providing momentum for XAU/USD to increase in value.
Breaking through the resistance level of $2,047-$2,048 USD, representing the highest trading range in a week, would be beneficial for bullish traders. As a result, there may be further attempts to test the next related resistance level around $2,072-$2,073 USD, which could potentially lead gold prices to aim for the round figure of $2,100 USD.
Wishing you a Merry Christmas!
The price of gold continues to trend upward and has reached a new high in several weeks, surpassing $2,060 USD. The yield on the 10-year US Treasury bond remains below 3.9% after weak US PCE inflation data, providing momentum for XAU/USD to increase in value.
Breaking through the resistance level of $2,047-$2,048 USD, representing the highest trading range in a week, would be beneficial for bullish traders. As a result, there may be further attempts to test the next related resistance level around $2,072-$2,073 USD, which could potentially lead gold prices to aim for the round figure of $2,100 USD.
Wishing you a Merry Christmas!
