Gold Price Forecast: $XAUUSD rebound from under $1,900 offers hope for bulls Read More!▶️ Commodities Forex
ising back to the $1,910 area, alleviating the bearish pressure. The fundamentals continue to complicated the outlook for the bulls.
The positive numbers from the labor market and GDP revision show that the US economy remains robust, keeping the doors open for more tightening from the Federal Reserve . US Treasury Yields spiked to weekly highs after the numbers and weighed on XAU/USD. The 10-year yield rose to 3.86%, the highest since March. At the same time, the US Dollar also gained momentum, with the DXY rising to two-week highs above 103.30.
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