Jan 6, 2021 18:47 GMTFXStreet News
Rising real US bond yields have put downwards pressure on precious metals such as gold.
XAU/USD has slipped back towards the $1900 level, but rising inflation expectations could act as supportive.
Coming within a few dollar of November 2020 highs just above $1960 in the early part of Wednesday’s European session, spot gold prices (XAU/USD) have declined back towards the $1900 level in recent trade. The psychological nature of the $1900 level, as well as support in the form of 21, 28 and 31 December 2020 highs between $1900-$1906, is acting in support of the price action for now. Spot prices currently trade around $1905 and with losses of over 2.0% or more than $40 on the day.
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