Gold price is licking its wounds near $1,820, having hit its lowest level in seven months at $1,815 on Tuesday. All eyes now turn toward the high-impa
Gold price is slightly away from the multi-month troughs, looking to build on the previous rebound, as the US Dollar has entered a phase of bullish consolidation while the US Treasury bond yields sit at a 16-year peak. The benchmark 10-year US Treasury bond yields are up 0.90% on the day, trading at 4.85%.
From a short-term technical perspective, nothing seems to have changed for Gold price, as a correction from a seven-month trough remains on the table. However, if Gold buyers fail to find a strong foothold above the $1,850 mark, the downtrend could gather steam once again. Gold price will need to crack the previous day’s low of $1,815 to tale on the crucial support at the $1,810 level, where the March 8 low is registered.
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