Spot Gold resumed its advance on Tuesday, resulting in XAU/USD reaching a fresh all-time high of $2,276.90 in the American session.
XAU/USD Current price: $2,260.96 Upbeat United States macroeconomic data failed to support the US Dollar. Federal Reserve officials kept pouring cold water on rate-cut hopes. XAU/USD keeps posting record highs without signs of bullish exhaustion. The US Dollar pared gains at the beginning of the day and lost some additional ground after Wall Street’s opening, despite generally upbeat United States data and the poor performance of US indexes.
Wall Street is under strong selling pressure as government bond yields soar. The yield on the 10-year Treasury note peaked at 4.40% today, its highest since last December, while the 2-year note offers 4.70%, not far below the year peak. XAU/USD short-term technical outlook XAU/USD bullish trend remains firm in place, according to the daily chart, as the pair has consistently advanced beyond bullish moving averages.
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