Gold Technical Analysis – Higher real yields weigh on the market

Oct. 7, 2024 - ForexLive

Fundamental OverviewGold lost some momentum recently following better than expected US data. Real yields rose and started to put some pressure on gold.

Gold Technical Analysis – Daily TimeframeGold DailyOn the daily chart, we can see that gold got stuck in a consolidation around the all-time highs following better than expected US data. Gold Technical Analysis – 4 hour TimeframeGold 4 hourOn the 4 hour chart, we can see more clearly the rangebound price action near the all-time high.

Gold Technical Analysis – 1 hour TimeframeGold 1 hourOn the 1 hour chart, there’s not much else we can add here as the market participants will either wait for a technical breakout or a catalyst...