Gold price extended its slide and declined more than 1% this week after losing 3% in the previous one. Surging global bond yields continued to weigh h
Gold continued to stretch lower as bond yields pushed higher. Near-term technical picture points to oversold conditions for XAU/USD. September inflation data could trigger the next big action in the pair. eavily on XAU/USD as markets assessed the potential impact of the latest strong US macroeconomic data releases on the Federal Reserve’s policy outlook.
The Summary of Economic Projections confirmed in September that policymakers saw it appropriate to raise the policy rate by another 25 basis points before the end of the year. Since the minutes will not account for the sharp upsurge seen in US Treasury bond yields since then, any hawkish remark could be ignored by investors.
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