Falling bond yields push spot gold prices back to 200-day moving average

Falling bond yields push spot gold prices back to 200-day moving average

Gold
August 3, 2021 by Bobby Chaim
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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
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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.

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