Gold consolidates around $2,350 a troy ounce on Monday, struggling to find directional strength in a risk-averse environment.
XAU/USD Current price: $2,341.03 The yield on the 10-year Treasury note hit its highest since mid-2023. Tensions between Israel and Iran undermine the market mood. XAU/USD consolidates around its daily opening, may extend its corrective slide. XAU/USD hit an all-time high of $2,431.43 on Friday but closed the day in the red amid continued US Dollar demand combined with profit-taking ahead of the weekly close.
Meanwhile, Wall Street battles to reverse Friday’s losses, with the three major indexes trading mixed. XAU/USD short-term technical outlook The daily chart for the XAU/USD pair shows it may extend its corrective slide. The pair posted a lower low and lower high but remains above all its moving averages, with a firmly bullish 20 Simple Moving Average providing dynamic support at around $2,259.00.
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