Gold price remains on the backfoot around $1,750, the lowest band of the range. Despite dismal NFP figures, the US dollar remained unaffected. US yields remain high, pointing at further losses in the gold. The gold price outlook is bearish as the price wobbling near the lower end of the range. The major contributor to gold losses is strong US yields. If you are interested in trading gold with forex robots, check out our guide. Over the past week, gold prices fluctuated between $1,750 and $1,770 as they remained under pressure. Metal prices declined due to several factors, including a stable USD, higher US Treasury bond yields, and stock gains. Despite small losses, the US Dollar Index (DXY), which tracks the dollar against six major competitors, remains strong at 94.10. This makes gold more expensive for holders of other currencies. Despite disappointing NFP data, the 10-year Treasury yield benchmark rose to 1.61% as investors remain concerned about continued higher inflation and expect an imminent Fed tapering in November. Stock prices have recently declined, suggesting that risk aversion has supported precious metals at lower levels. For the day, S&P Futures trading at 4,367.50, down 0.33%. Get FREE Forex Signals Now! As the dollar slid into bullish territory against a basket of competing currencies, gold prices fell in Asia on Monday. XAU/USD is currently trade at $1,751.29, down about 0.3% from a high of $1,758.40. The Labor Department reported on Friday that non-farm jobs had risen by 194,000 over the past month. Reuters polled economists who predicted 500,000 employment growth. Despite Friday’s disappointing US labor report, the dollar did not drop. The disappointing numbers did not convince investors that the Federal Reserve would not cut asset purchases as early as November. Inflationary pressures may persist in winter, though growth may be slower. Because of this, the Federal Reserve will not cut bond purchases until after the November 2-3 policy meeting despite possible slowdowns in growth. If you are interested in Automated forex trading, check our detailed guide- Gold price technical outlook: Bears to pounce $1,750 The gold price rejected from 200-period SMA on the 4-hour chart remains under the congestion of 50-period and 20-period SMAs. The price is consolidating while the volume is pointing at more bearish action. Any sustained move below the $1,750 mark may lead to the swing lows at $1,722. On the upside, $1,770 remains a key hurdle for the buyers ahead of the $1,800 mark. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Commodities share Read Next Free Forex Signals and Forecast: Buy USD/ZAR – 11 Oct 2021 Olimpiu Tuns 7 months Gold price remains on the backfoot around $1,750, the lowest band of the range. Despite dismal NFP figures, the US dollar remained unaffected. US yields remain high, pointing at further losses in the gold. The gold price outlook is bearish as the price wobbling near the lower end of the range. The major contributor to gold losses is strong US yields. If you are interested in trading gold with forex robots, check out our guide. Over the past week, gold prices fluctuated between $1,750 and $1,770 as they remained under pressure. Metal prices declined due to several factors, including a… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.