When we look at the correlation between Gold and US 10 Year Yields we easily can see an inverse correlation. When US10Y (Blue Line) increases Gold (Candles) decreases and vice versa. We can see these cycles in green lines. But every once in a while US10Y increases Gold only decreased till the EMA (White Lines) so we can easily say that EMA ($1811) is a big support for Gold.
Since FED saying that they going to increase interest rates more and more we can say that US10Y going to increase more. So that can make pressure on Gold for few months. Even though I don't expect it to fall to $1685 support because of the descriptions of FED, we can still consider that support just in case the possibility of FED to increase interest rates more than 50 pp.
Since FED saying that they going to increase interest rates more and more we can say that US10Y going to increase more. So that can make pressure on Gold for few months. Even though I don't expect it to fall to $1685 support because of the descriptions of FED, we can still consider that support just in case the possibility of FED to increase interest rates more than 50 pp.