Gold price predictions from analyst Matias Salord. XAU/USD has bounced back below $1800 as markets increase selling. XAU/USD has retraced more than $10 from daily highs. Wall Street indices fell more than 2%. US rates are at a two-week low, 10-year 1%. At level 50. Detail Cryptocoin. com
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Gold prices at critical levels
Gold prices were on the upside on the day, but were quite far from highs. XAU/USD bounced back to $1815 during the European session, but later turned bearish and settled below $1800. The risk aversion environment limited gains and supported the pullback. US 10-year Treasuries, 1% two days ago. After close to 70, 1%. 49, the lowest level since November 10; 1%, down 6% over 30 years. dropped to 84. Concerns over the new COVID-19 variant weighed on market sentiment and are trying to influence monetary policy expectations. Restriction announcements across Europe drove stock and crude oil prices down sharply.
Initially, XAU/USD reacted to the upside, supported by lower US yields. The gold rally was limited and at the time of this writing, gold prices were pulling back a bit, impacted by global selling and the mixed US dollar. A solid recovery above $1,810 could remove the negative tone in the short term; A daily close below $1,780 could mean more losses in the future.