Precious metals fell into a strong tug-of-war due to conflicting factors. Concerns about growing world political instability boosted safe-haven demand for gold, while the hawkish stance of central banks held back the precious metal's gains.
In my opinion, gold is still in a downtrend in the short term
In my opinion, gold is still in a downtrend in the short term
Note
The yield on the US 10-Treasury rose to 3.83%, increasing the opportunity cost of holding zero-yield assets like gold. Push the price of precious metals down.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.