Rising Real Yields and still elevated long positioning are expected to put further pressure on gold, which has completed a top below $1765, raising the prospect of a much more serious fall, per Credit Suisse. See – Gold Price Analysis: XAU/USD to near the confluence support zone at $1,660-$1,670 – DBS Bank Key quotes “Gold maintains its tight inverse relationship with US Real Yields, which we expect to rise further, which should put further pressure on the yellow metal.” “CFTC positioning data shows the net long from extreme levels is unwinding, but still in our view has scope to unwind further yet and potentially significantly so.” “Gold has finally bowed to rising yields and the strengthening USD and key support at $1761 was recently cleared for the completion of a large top. The market has reinforced this top with a break below the 38.2% retracement of the 2018/2020 bull trend at $1726 and we look for a fall to $1670 next, then $1620/15.” “Resistance at the $1761 breakdown point now ideally caps to keep the immediate risk lower.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Silver rallied back above $26.00 as soft US inflation eases “overheating” fears FX Street 1 year Rising Real Yields and still elevated long positioning are expected to put further pressure on gold, which has completed a top below $1765, raising the prospect of a much more serious fall, per Credit Suisse. See - Gold Price Analysis: XAU/USD to near the confluence support zone at $1,660-$1,670 - DBS Bank Key quotes "Gold maintains its tight inverse relationship with US Real Yields, which we expect to rise further, which should put further pressure on the yellow metal." "CFTC positioning data shows the net long from extreme levels is unwinding, but still in our view has scope to unwind… Regulated 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.
