OctaFX | OctaFX Forex Broker
Abrir una cuenta

Gold resilient to rise in treasury yields

FXStreet (Mumbai) - Gold prices remain largely unchanged even though the upward revision of the US Q2 GDP report saw treasury yields representing rate hike bets extend gains.

Supported by hourly 50-MA

A minor drop to the hourly 50-MA located at USD 1140/Oz levels was quickly reversed as the metal is back to trade around USD 1144-1145/Oz levels. The uptick in the GDP on the back of strong consumption pushed up the two-year treasury yield to 0.743%, before it pared gains to trade around 0.72%; up 4 basis points on the day.

Overall, the metal has remained resilient to a stronger US GDP figure. The traders now look towards the sentiment on the Wall Street. The USD index; up 0.55% may also influence the metal.

Gold Technical Levels

The immediate resistance is located at 1150.00 (100-DMA), above which the prices could re-test the previous session’s high at 1156.70. On the other side, support is seen at 1141.73 (Sep 18 high), under which the losses could be extended to 1136.23 (5-DMA).

USD/CAD in the range after data, around 1.3330

USD/CAD remained around the 1.3320/30 band following today’s releases in the US economy...
Leer más Previous

US: Growth hard to come by – BAML

Research Team at BAML, note that the latest Fed projection for 2015 4Q YoY GDP growth was a surprisingly low 2.1%, given what we know about growth in the first and second quarter of this year, we can back out the implied average growth rate for the second half.
Leer más Next
Start livechat