10-year US yields dropped below 1.15% yesterday - the lowest level since February 2021. However, market rates began to rise along with improvement of moods on the global stock markets. 10-year yield recovered to almost 1.25% today and it is putting some pressure on precious metals, like gold. GOLD made an unsuccessful attempt of breaking back above the 38.2% retracement of the May-June correction ($1,814) this morning. Following a failure to break above the $1,814 area, precious metal pulled back below the $1,805 mark. While psychological $1,800 area may offer some support, key support level to watch from technical point of view can be found at 23.6% retracement ($1,790 area).
Recent pick-up in new Covid cases around the world may give central banks an argument to maintain pandemic support schemes, like asset purchases, and therefore may be a positive for gold prices. Tomorrow's monetary policy announcement from ECB may trigger short-term volatility spike on gold.
Source: xStation5
ارتفاع سعر الكاكاو بنسبة 4% في محاولة للتعافي من أدنى مستوى له في أسبوعين 📈
📉 انخفاض سعر الذهب بنسبة 1.5%
عاجل: حلف شمال الأطلسي يدرس نشر قوات في مضيق هرمز إذا لم يُفتح المضيق بحلول يوليو
ارتفاع أسعار النيكل مع تخطيط إندونيسيا لتشديد ضوابط تصدير السلع الأساسية 📈
