$XAUUSD grinds higher after four-day winning streak, bearish channel tests upside bias
to keep inflation in check,” said Reuters. That said, the US two-year Treasury bond yields dropped to 4.85% while the 10-year counterpart fell to 3.78%, before ending Monday’s trading around 4.93% and 3.86% respectively.
Previously, the Wall Street Journal added to the market’s fears about the Sino-American ties while saying, “The Biden administration is preparing to restrict Chinese companies’ access to U.S. cloud-computing services, according to people familiar with the situation, in a move that could further strain relations between the world’s economic superpowers.”
While portraying the mood, the US Dollar printed a two-day winning streak before ending Tuesday’s North American session near 103.10 whereas the German Bunds rose while Euro Stoxx and FTSE 100 were both down with mild losses. Also acting as a bullish sign for the Gold buyers is the quote’s successful break of a two-month-old descending resistance line, now immediate support around $1,926.
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