Falling bond yields push spot gold prices back to 200-day moving average
Bond yields in New York ‘s afternoon session dropped to a session low of 1.16%, which in turn has pushed spot gold prices to $1,815.40 an ounce, roughly unchanged on the day.
According to consensus reports, economists are expecting that 895,000 jobs were created in July.
“Technically, gold prices may be forming a ‘Double Top ‘ pattern after failing to breach the 1,835 resistance for a second try.
Some market analysts have noted that while gold has managed to turn around Monday, other important commodities have been struggling.