Gold is losing more than 1% for the second straight day. As FXStreet’s Eren Sengezer notes, XAU/USD could extend its slide unless it manages to reclaim $1,700. See – Gold Price Analysis: XAU/USD to remain under pressure amid rising US real yields and a strengthening USD – Credit Suisse Key quotes “The benchmark 10-year US T-bond yield, which posted gains in the previous three trading days, touched its highest level in more than a year at 1.774% on Tuesday and was last seen rising 2.2% on the day at 1.753%. 1.75% is widely seen as a key level for the 10-year US T-bond yield and a daily close above this point could allow the bullish momentum to remain intact and make it difficult for XAU/USD to erase its losses.” “In case XAU/USD manages to stage a recovery, the initial resistance is located at $1,700 (psychological level) ahead of $1,720 (20-day SMA). As long as $1,700 resistance continues to hold, a bullish shift is unlikely to occur in the near-term.” “$1,680 aligns as the first support on the downside. Below that level, a couple of static supports coming from April 2020 could be seen at $1,670 and $1,660.” 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 IMF’s Georgieva: IMF to revise up previous forecast of 5.5% global growth in 2021 FX Street 8 months Gold is losing more than 1% for the second straight day. As FXStreet's Eren Sengezer notes, XAU/USD could extend its slide unless it manages to reclaim $1,700. See - Gold Price Analysis: XAU/USD to remain under pressure amid rising US real yields and a strengthening USD - Credit Suisse Key quotes "The benchmark 10-year US T-bond yield, which posted gains in the previous three trading days, touched its highest level in more than a year at 1.774% on Tuesday and was last seen rising 2.2% on the day at 1.753%. 1.75% is widely seen as a key level for the… 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.
