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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.”