Easing tensions favor better market mood, although $Gold rallies anyway. Wall Street posting substantial gains ahead of the opening, trimming Monday’s losses, $XAUUSD technically bullish, near-term buyers aligned around $2,000
Wall Street is posting substantial gains ahead of the opening, trimming Monday’s losses.Gold Price resumed its advance early in the US session and trades near a multi-month high of $2,020.96 a troy ounce its highest since August 2020.
Meanwhile, government bond yields are up around the world, reflecting an improving market’s mood. The yield on the 10-year Treasury note is up by nine basis points, hovering around 1.84%. Nevertheless, the sentiment could take a turn to the worst anytime amid the ongoing crisis between Russia and Ukraine. It is worth noting that. Market players are expecting an announcement on a ban on crude oil imports.
Gold Price is overbought in the near term, although there are no technical signs of bullish exhaustion, which maintains the risk skewed to the upside for the American session