Gold Price Forecast: XAUUSD tests 21-DMA support amid surging yields, Fed’s Beige Book eyed Gold XAUUSD Commodities Technical Analysis YieldCurve
The greenback eases from two-year highs vs. its main competitors, tracking the sharp pullback in the USD/JPY pair. The yen is recovering ground following the Bank of Japan’s first bond market intervention of this month.
The rise in real returns is likely to undermine the sentiment around the non-interest-bearing Gold Price unless the correction in thepair deepens and knocks the buck sharply down alongside. Further, uncertainty around the Russia-Ukraine war could help the downside in XAUUSD. This could be seen as the 14-day Relative Strength Index is still sitting just above the midline, keeping buyers hopeful.
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