{"id":104596,"date":"2024-08-13T00:39:03","date_gmt":"2024-08-12T20:39:03","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=104596"},"modified":"2024-08-13T00:44:12","modified_gmt":"2024-08-12T20:44:12","slug":"gold-prices-surge-on-sliding-t-yields-heated-middle-east-tensions","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-prices-surge-on-sliding-t-yields-heated-middle-east-tensions\/08\/13\/market-updates\/","title":{"rendered":"Gold prices surge on sliding T-Yields, Middle East tensions"},"content":{"rendered":"\n<p>Gold prices surged over 1.5% on Monday as US Treasury yields retreat ahead of key CPI data, with the 10-year yield down to 3.902%. The ongoing Middle East tensions, with no ceasefire in sight, drive demand for Gold&#8217;s safe-haven status. <br><br>Traders are bracing for the latest Consumer Price Index (CPI) report for July, which is expected to show an improvement in the disinflation process. The XAU\/USD trades at $2,467 after bouncing off a daily low of $2,423.<br><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/image-638590843560206900.png\" alt=\"\"\/><figcaption><strong>Gold Prices, Source: TradingView<\/strong><\/figcaption><\/figure>\n\n\n\n<p><br>Market sentiment shifted sour amid ongoing developments in the Middle East, with Israel, Lebanon, and Iran&#8217;s lack of efforts to reach a ceasefire agreement keeping market participants uneasy. This triggered a flight to Gold&#8217;s safe-haven status due to a possible escalation of the conflict. <br><br>US Treasury bond yields edged lower with the 10-year benchmark note rate down four basis points (bps) to 3.902%, ahead of the release of inflation data. Federal Reserve Governor Michele Bowman was neutral, saying that some progress on inflation is welcome, according to data from the last two months.<br><br>The economic calendar will feature the release of US inflation figures on Tuesday and Wednesday, followed by Retail Sales data on Thursday and Friday&#8217;s University of Michigan (UoM) Consumer Sentiment. Gold&#8217;s uptrend extended on Monday, with prices approaching the $2,470 figure ahead of the all-time high (ATH) of $2,483, which could be tested if inflation comes lower than foreseen. Momentum favours buyers, as reflected by the Relative Strength Index (RSI), which is above the neutral line aiming higher.<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices surged over 1.5% on Monday as US Treasury yields retreat ahead of key CPI data, with the 10-year yield down to 3.902%. The ongoing Middle East tensions, with no ceasefire in sight, drive demand for Gold&#8217;s safe-haven status. Traders are bracing for the latest Consumer Price Index (CPI) report for July, which is &hellip;<\/p>\n","protected":false},"author":13,"featured_media":104608,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[7987,8431,8618,6984],"class_list":["post-104596","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-cpi-data","tag-iran","tag-middle-east","tag-treasury-yields"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/104596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=104596"}],"version-history":[{"count":4,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/104596\/revisions"}],"predecessor-version":[{"id":104610,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/104596\/revisions\/104610"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/104608"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=104596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=104596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=104596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}