Spot Gold eased on Wednesday after being unable to surpass the $2,400 mark for a second consecutive day.
XAU/USD Current price: $2,370.03 Financial markets struggle with sentiment amid Middle East tensions, on-hold central banks. US Government bond yields are in retreat mode after reaching fresh 2024 highs. XAU/USD giving modest signs of an imminent bearish correction. The US Dollar trades marginally lower against its major rivals despite resurgent risk aversion following Wall Street’s opening.
60%, down 5 basis points , while the 2-year note is down 4 bps, now yielding 4.92% XAU/USD short-term technical outlook XAU/USD trades near $2,370, and the daily chart shows that the slide may continue. Technical indicators retreat from extreme overbought levels, suggesting the decline may continue. Still, a steeper slide remains out of the picture, as XAU/USD refuses to give up while developing its moving averages above all.
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