Gold rose 0.7% to $1776.51/oz last Friday and is now trading at its highest since late February. Howie Lee, Economist at OCBC bank, turns neutral in the near term, however, he notes XAU/USD could suffer more pressure long-term as US Treasury yields resume their uptrend. See – Gold Price Analysis: US Treasury yields and USD to ease later in the year, allowing for XAU/USD gains – HSBC Falling yields and dollar support gold’s rise “The fall in US Treasury yields and the DXY index have supported gold’s elevated level.” “Our model suggests a fair value range of $1671-$1775/oz for gold at current inputs, which means at current levels, gold is not too far off its fair value estimation.” “We close our tactical recommendation of short gold and stay neutral on the precious metal in the short-term.” 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 USD/JPY rebounds from multi-week lows, climbs to mid-108.00s FX Street 2 years Gold rose 0.7% to $1776.51/oz last Friday and is now trading at its highest since late February. Howie Lee, Economist at OCBC bank, turns neutral in the near term, however, he notes XAU/USD could suffer more pressure long-term as US Treasury yields resume their uptrend. See - Gold Price Analysis: US Treasury yields and USD to ease later in the year, allowing for XAU/USD gains - HSBC Falling yields and dollar support gold's rise "The fall in US Treasury yields and the DXY index have supported gold's elevated level." "Our model suggests a fair value range of $1671-$1775/oz for… 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.
