CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Chart of the day - GOLD (21.07.2021)

09:38 21 July 2021

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

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