Update latest gold price today.
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Gold prices continued to rise slightly on Tuesday as Treasury yields eased, while investors cautiously awaited more data for fresh clues on the Federal Reserve's easing cycle. The 10-year yield fell as the day's report showed a slowdown in manufacturing activity in New York state.
Accordingly, bond yields are putting slight pressure on gold. However, the advantage is still tilted towards a sideways or higher scenario for gold in the short term, assuming that both bond yields and the USD will decline.
In the current environment, I appreciate the surprising strength of this precious metal. Gold has not succumbed to the strength of the USD and Treasury yields, and the rally continues to be simmering.
Accordingly, bond yields are putting slight pressure on gold. However, the advantage is still tilted towards a sideways or higher scenario for gold in the short term, assuming that both bond yields and the USD will decline.
In the current environment, I appreciate the surprising strength of this precious metal. Gold has not succumbed to the strength of the USD and Treasury yields, and the rally continues to be simmering.
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