Bond yields continue their sharp rise as traders bet on a quick reflation scenario. One of the major victims is Gold – there is a strong negative correlation between yields and Gold prices as we were showing at the last weekly webinar. Gold prices were underpinned by $1765 level for a while but a surge in yields eventually was too much and now we can see prices moving towards the lower limit of a channel with still plenty of room and horizontal $1680 level along the way. Do notice how 50 and 75 LWMAs now work as a resistances – another sign of a possible trend reversal.

Three markets to watch next week (07.08.2026)
Gold gains almost 3% trying to reverse the trend
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Market Wrap: Tech lifts Europe to new record highs! Metals keep rallying despite stagnant USD (07.08.2026)