Gold Price Forecast: XAU/USD approaches $2,000 amid downbeat United States Treasury bond yields, US Dollar Gold SEO XAUUSD RiskAppetite YieldCurve
ort line during early Tuesday. In doing so, the bright metal cheers downbeat the United States Treasury bond yields and the US Dollar as markets prepare for the key US
With this, the difference between one-month and three-month US Treasury bond yields widen the most since 2001. As a result,“The dollar fell to a more than one-week low against major currencies on Monday in generally thin trading, as investors continued to price in interest rate cuts this year by the Federal Reserve after a widely expected rate increase at next week's policy meeting,” said Reuters in this regard.
Looking forward, US Conference Board’s Consumer Confidence gauge for April, expected to remain steady near 104.1 versus 104.2 prior, will be important for the intraday directions of the DXY. However, major attention will be given to US Q1 GDP, US Core PCE Price Index and the yields for a clear guide.pierces a one-week-old descending resistance line as it approaches the 50-bar Simple Moving Average of around $2,003 amid bullish signals from the Moving Average Convergence and Divergence indicator.
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