Gold rebounds after testing $1,750

A strong spontaneous rise in the US bond yields prompted new selling around gold on Monday. The risk-off impulse, a broad-based USD weakness would help limit deeper losses as uptrend potential appears limited above $1750.
After managing to close the previous week in the positive territory, gold got lower during the first half of the day on Monday.
The XAU/USD pair met support near $1,750 and reversed its direction during the American trading hours on its way to the highest level since September 23 at $1,770 level.
The pair is up 0.35% on a daily basis at $1,767. The USD’s weakness seems to be allowing gold to cling to its gains despite the 1% increase witnessed in the benchmark 10 year US Treasury bond yield.
Gold is also attracting investors as a safe haven with Wall Street’s main indexes losing between 1.2% and 2.5% on the day.