A Resistance On US Yields Can Be Supportive For Gold

SAXO:XAUUSD   Gold Spot / U.S. Dollar
Hello traders and investors, today we will talk about US Yields and its relationship with GOLD from Elliott wave perspective.

As you may already know, US Yields and gold are in negative correlation. And, as you can see, while US Yields are on the rise, gold is slowing down. However, US Yields can be now finishing a five-wave cycle from the lows, while gold is approaching important support within a three-wave A-B-C correction for a higher degree wave (IV).

So, if we are on the right path, then US Yields may start slowing down soon after reaching 10-year high, while gold could continue its uptrend within wave (V).

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