News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Gold: 0.82% Silver: 0.65% Oil - US Crude: -0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/KVfIXfvjtM
  • Gold breaks out of the range-bound price action from earlier this week as the 10-Year US Treasury yield slips to a fresh monthly low (1.53%). Get your $XAUUSD market update from @DavidJSong here:https://t.co/QlflNxQb8o https://t.co/cMYBlVaH5X
  • Bank of America sets bond sale at $15 billion, new record issuance for a bank - BBG $BAC
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.51%, while traders in Germany 30 are at opposite extremes with 80.34%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Rt3UaXS0iz
  • CI Global Asset Mgmt to launch world's first Ethereum ETF - BBG $ETH
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.28% US 500: 0.16% France 40: 0.08% FTSE 100: 0.08% Germany 30: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/GMkjgMV7IS
  • US Indices are mixed today. The S&P 500 and Dow are up while Tech and Small Caps are trading slightly in the red. DOW +0.28% SPX +0.17% NDX -0.12% RUT -0.13% $DIA $SPY $QQQ $IWM
  • The US 10yr Treasury yield has slightly risen from the one month low hit yesterday around 1.53% to currently trade around 1.57%. Yields remain depressed compared to their levels from late March/early April. $USD https://t.co/uJJHXPaOhm
  • Retail CFD traders (at IG) have built up their heaviest short and net short position on the $SPX since we hit the peak at the beginning of September: https://www.dailyfx.com/sentiment https://t.co/IGK0KKRwwB
  • Hey traders! Wrap up the week with a quick market update from @DailyFX Chief Strategist @JohnKicklighter 👇 https://t.co/qLtlinTzj8
Gold Weekly Price Forecast: XAU Caught Between Treasury Yields and USD

Gold Weekly Price Forecast: XAU Caught Between Treasury Yields and USD

Peter Hanks, Strategist

Gold Price Forecast: Neutral

Gold Weekly Price Forecast: XAU Caught Between Treasury Yields and USD

Gold has suffered from directionless price action in the last two weeks after mounting a recovery rally from the 1675 area earlier this March. Since the Federal Reserve reiterated its accommodative policy path at the March Fed meeting, it can be argued little has changed in the fundamental landscape over the period. With that in mind, the precious yellow metal is caught between fluctuating Treasury yields and US Dollar price trends.

Gold Price & US 10-Year Treasury Yield (January 2017 – March 2021)

gold vs 10-year yield

Chart created in TradingView

Last week, US Treasury yields saw their ascent slow giving brief respite to gold as investors were previously shying away from gold exposure amid rising yields. That said, weakness in US Treasurys was combated by considerable strength in the US Dollar which worked to curb gains for the Dollar-denominated commodity.

Gold Price & US Dollar Basket (DXY) (January 2017 – March 2021)

gold vs dxy

Chart created in TradingView

Evidently, a cooldown in US Treasury yields is not enough to spark gold gains if Dollar strength exists simultaneously – evidenced by their consistent negative correlation. Due to the relationship between the three markets, the contradicting moves in Treasurys and the Greenback translate to a lack of direction for gold which has stymied the recovery rally.

Gold (XAU/USD) Price Chart: Daily Time Frame (March 2020 - March 2021)

xauusd gold

How to Trade Gold: Top Gold Trading Strategies and Tips

With gold seemingly at the mercy of other markets, gold traders can look to US Dollar analysis for further insight. As it stands, the Greenback is on the verge of, or has already endeavored on, a number of bullish breakouts that could suggest further Dollar strength is ahead which might leave gold grasping for support. In the meantime, follow @PeterHanksFX on Twitter for updates and analysis.

How to Trade Gold
How to Trade Gold
Recommended by Peter Hanks
How to Trade Gold
Get My Guide

--Written by Peter Hanks, Strategist for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES