Gold Price Forecast: XAU/USD remains under pressure amid rising yield – ANZ Gold XAUUSD Bonds DollarIndex Banks
Gold price remained under pressure from rising US Treasury bond yields, economists at ANZ Bank report.Gold price momentum slowed recently as the UST 10y bond yield inched higher.
Investors have been liquidating gold ETF holdings in June. Tactical long positions have dropped too. Nevertheless, the risk of a US recession has increased, with the yield curve inverting to a multi-year low. Such risk should lead funds back into Gold. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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