Gold Price Forecast: XAU/USD reverses from $1,985 hurdle despite downbeat yields – Confluence Detector – by anilpanchal7 Gold XAUUSD Confluences RiskAversion YieldCurve
ined recovery from a 15-month low. Also exerting downside pressure on the XAU/USD price could be the risk headlines from China. It’s worth noting, however, that the downbeat US Treasury bond yields fail to inspire the Gold Price upside as markets await more clues to defend the previous day’s risk-on mood.
Elsewhere, China Industry Ministry recently conveyed fears of insufficient demand and declining revenues and justifies the downbeat Gross Domestic Product data for the second quarter that suggested fears of easing economic recovery in the world’s biggest industrial player.
In a case where the Gold Price remains firmer past $2,000, the odds of witnessing a run-up toward April’s peak of around $2,050 can’t be ruled out.
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