Gold is falling towards the $1700 level as rising Treasury yields continue to dim the appeal of the yellow metal. Strategists at OCBC Bank continue to stay short gold as a tactical strategy.
See – Gold Price Analysis: XAU/USD to remain under pressure amid rising US real yields and a strengthening USD – Credit Suisse
Key quotes
“With 10Y Treasury yields now at 1.68%, gold looks over-valued at current levels.”
“We continue to stay short gold tactically and see its fair-value at $1650.”
Share
