Gold slips near $4,500 as Oil rally and US yields weigh on bullion
News brief
Gold (XAU/USD) price extended on Friday its losses for the eighth straight day, poised to end the week down by more than 8.50% as Oil prices continued to rally, boosting the haven appeal of the Greenback. Gold drops nearly 2% to $4,560, heading for weekly losses above 8.5%.US 10-year yield jumps to 4.38% as markets price out Fed…
Why traders care
For traders, releases like this can quickly shift rate expectations, currency direction, index futures and broad risk sentiment.
What to watch next
- Watch the next move in the dollar, front-end yields and index futures to see whether the market prices this release as a true surprise or only a passing headline.
Gold (XAU/USD) price extended on Friday its losses for the eighth straight day, poised to end the week down by more than 8.50% as Oil prices continued to rally, boosting the haven appeal of the Greenback. Gold drops nearly 2% to $4,560, heading for weekly losses above 8.5%.US 10-year yield jumps to 4.38% as markets price out Fed… Gold (XAU/USD) price extended on Friday its losses for the eighth straight day, poised to end the week down by more than 8.50% as Oil prices continued to rally, boosting the haven appeal of the Greenback. Gold drops nearly 2% to $4,560, heading for weekly losses above 8.5%.US 10-year yield jumps to 4.38% as markets price out Fed cuts.Oil near $98 and Middle East escalation boost DXY to 99.58, pressuring bullion.Gold (XAU/USD) price extended on Friday its losses for the eighth straight day, poised to end the week down by more than 8.50% as Oil prices continued to rally, boosting the haven appeal of the Greenback.… For traders, releases like this can quickly shift rate expectations, currency direction, index futures and broad risk sentiment. Watch the next move in the dollar, front-end yields and index futures to see whether the market prices this release as a true surprise or only a passing headline.
