{"id":105019,"date":"2024-08-23T01:31:00","date_gmt":"2024-08-22T21:31:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=105019"},"modified":"2024-08-23T02:34:09","modified_gmt":"2024-08-22T22:34:09","slug":"gold-price-retreats-amid-rising-us-yields","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-price-retreats-amid-rising-us-yields\/08\/23\/market-updates\/","title":{"rendered":"Gold Price Retreats Amid Rising US Yields"},"content":{"rendered":"\n<p>Gold prices retreated from a record high of $2,531 as US Treasury yields rose, with the 10-year note up 6.5 basis points to 3.865%. This decline occurred despite dovish signals from the Federal Reserve.<br><br>Gold prices declined amid rising US Treasury yields and a stronger US Dollar. While the Federal Reserve hinted at a potential rate cut, mixed economic data and profit-taking contributed to the decline. Investors should monitor technical indicators and key support and resistance levels to gauge future price movements.<br><br><strong>Mixed US Economic Data<br><\/strong><br>US economic data was mixed, with higher jobless claims and solid business activity contrasting with ongoing manufacturing contraction. The Federal Reserve Minutes hinted at a potential rate cut in September, but a stronger US Dollar pressured Gold lower.<br><br><strong>Factors Contributing to Gold&#8217;s Recent Retreat<br><\/strong><br>Rising US Treasury Yields: Higher yields increased the opportunity cost of holding non-interest-bearing gold. A stronger dollar made gold more expensive for foreign investors. Moreover; some investors may have taken profits after gold&#8217;s recent rally.<br><br><strong>Technical Factors<br><\/strong><br>Gold&#8217;s uptrend remains intact, but a daily close below the previous ATH of $2,483 could trigger a deeper pullback. The Relative Strength Index (RSI) suggests that sellers may have the short-term advantage, but Gold&#8217;s mid-term outlook remains bullish.<br><br>Key Support and Resistance Levels<br><br>Support: $2,500, $2,450, $2,398, $2,377<br>Resistance: $2,531<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices retreated from a record high of $2,531 as US Treasury yields rose, with the 10-year note up 6.5 basis points to 3.865%. This decline occurred despite dovish signals from the Federal Reserve.Gold prices declined amid rising US Treasury yields and a stronger US Dollar. While the Federal Reserve hinted at a potential rate &hellip;<\/p>\n","protected":false},"author":13,"featured_media":61161,"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":[7603,6838,6984],"class_list":["post-105019","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-gold-prices","tag-manufacturing","tag-treasury-yields"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/105019","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=105019"}],"version-history":[{"count":4,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/105019\/revisions"}],"predecessor-version":[{"id":105028,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/105019\/revisions\/105028"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/61161"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=105019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=105019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=105019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}