Gold Price Forecast: XAUUSD aims $2,000 amid a solid rebound to near $1,960, yields surge by Ross_Burland XAUUSD Gold USDollar
The 10-year US Treasury yield trims Wednesday’s losses and approaches the 2.80% threshold.Gold witnessed a strong rebound in the late New York session from around $1,961.00 following a minor correction in the. Investors preferred the precious metal for parking their funds amid a long weekend due to the Easter holiday. It says that the Tough gets going but the journey of recapturing the crucial figure of $2,000 will be filled with difficulties.
Gold price has been pressured at the end of the week and the bears are moving in at a critical area of resistance. The price has rallied for six days in a row but the bulls could be throwing in the towel at this juncture. At the time of writing, the gold price is trading at $1,972.470 and has been in a range of between $1,960.60 and $1,980.43 overnight.
''Christine Lagarde conveyed a message of not being in a rush to tighten policies as the economic activity outweighs the concerns about the for extended high inflation, even though Lagarde seemed concerned about medium-term inflation expectations in particular surveys,'' the analysts at Danske Bank went on to explain. ''Therefore, we are slightly surprised about the messages sent during the press conference in light of its primary mandate.
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