Gold has failed to benefit from the major escalation in the war. US 10-year yields have crashed, yet $Gold is far from last week's highs. Bitcoin's fresh appeal is drawing money away from $XAUUSD by forexcrunch forex trading
ver, XAU/USD is still stuck at around $1,907, a far cry from the $1,973 level recorded last week. That is a fundamental sign of weakness.Sign up and get unfettered access to our analysts and exclusive contentOn the technical side, the picture is more nuanced. While momentum on the 4h-chart is to the downside, gold still trades just on top of the 50 SMA and well above the 100 and 200 SMAs.
All in all, there is room for further falls for gold. If talks between Russia and Ukraine make more progress, investors could buy stocks and abandon bonds. In turn, higher yields on Treasuries could further pressure XAU/USD, as the precious metal has no yield. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
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