Market Focus on Powell's Speech for Long-Term Fed Policy Clues,.
"Saxo Bank Highlights Intense Focus on Fed Chair Powell's Speech for Long-Term Policy Clues Over Near-Term Signals"
The dollar exhibited significant strength early on Thursday, resulting in increased costs for international buyers of gold. The ICE dollar index, as of the latest data, had risen by 0.51 points to reach 103.93.
Simultaneously, Treasury yields experienced an upward trend, which is typically unfavorable for gold as it doesn't generate interest. The yield on the US two-year note had increased by 5.6 basis points to 5.006%, while the 10-year note was yielding 4.224%, representing a 3.1 basis point increase.
GOLD
BUY LIMIT 1914-1916🕯
✅ TP1: 1920
✅ TP2: 1930
⚠️ SL: 1909
The dollar exhibited significant strength early on Thursday, resulting in increased costs for international buyers of gold. The ICE dollar index, as of the latest data, had risen by 0.51 points to reach 103.93.
Simultaneously, Treasury yields experienced an upward trend, which is typically unfavorable for gold as it doesn't generate interest. The yield on the US two-year note had increased by 5.6 basis points to 5.006%, while the 10-year note was yielding 4.224%, representing a 3.1 basis point increase.
GOLD
BUY LIMIT 1914-1916🕯 ✅ TP1: 1920
✅ TP2: 1930
⚠️ SL: 1909
Comment:
Gold futures in the United States (GOLD) declined by 0.2%, reaching $1,943.90.
