Gold Price Analysis: XAU/USD struggles for direction, flat-lined above $1,780 level
Gold reversed an intraday dip to the $1,774 area and is currently placed near the top end of its daily trading range, around the $1,782-83 region.
Worries that surging COVID-19 infections in some countries could derail the global economic recovery continued lending some support to the safe-haven XAU/USD. Apart from this, the emergence of some fresh selling around the US dollar further benefitted the dollar-denominated commodity. However, a modest pickup in the US Treasury bond yields kept a lid on any further gains for the non-yielding yellow metal. Read more...
Gold Price Analysis: XAU/USD to move downward over the next couple of years – OCBC
Aside from rising supply, commodity prices face a number of other headwinds over the next year including the prospect of a stronger US dollar and higher US Treasury yields. Against this backdrop, strategists at Capital Economics expect that the price of gold will fall.
We have become more negative on the outlook for the price of gold. The gold price has already fallen a long way from its 2020 peak in tandem with higher real yields in the US. Admittedly, real yields have fallen back a bit in recent weeks, and imports of gold in China and India have picked up. Read more...
Gold Price Analysis: XAU/USD to rise above $1800 on US T-bond yields moving below 1.55% – OCBC
Gold fell 0.4% on Friday to $1777.20 and questions remain if it can break above the $1800 resistance, having tried that multiple times last week to no avail. It may take US 10Y Treasuries moving below 1.55% to push gold above $1800, in the opinion of strategists at OCBC Bank.
“Gold has tried to break the $1800 level on multiple occasions last week but have found a lack of conviction from gold bulls in doing so.” Read more...
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