XAU/USD- bulls move in as US yields slide !!
Gold prices have been pushed and pulled on Wednesday, oscillating in and out of the hands of bulls and bears. At $1,765, the yellow metal is trading between $1,754.35 and $1,772.83, trading in the green by some 0.27%.
In futures, gold for December delivery closed down US$13.30 to settle at US$1,776.40 per ounce as US bond yields rose along with the greenback. While there is some relief over geopolitical worries that have eased since US House Speaker Nancy Pelosi ended her visit to Taiwan, there remains an underbelly of risk-off in markets with the Asian power boosting military activity around Taiwan to show its displeasure with Pelosi's move.
In futures, gold for December delivery closed down US$13.30 to settle at US$1,776.40 per ounce as US bond yields rose along with the greenback. While there is some relief over geopolitical worries that have eased since US House Speaker Nancy Pelosi ended her visit to Taiwan, there remains an underbelly of risk-off in markets with the Asian power boosting military activity around Taiwan to show its displeasure with Pelosi's move.
