CPT MarketsThe rise in US dollar and US bond yields has caused narrow fluctuations in gold prices! Weight of this week...

Gold/dollar (XAUUSD)：

goldAfter a significant decline against the US dollar on Tuesday, it fell to1932.06Nearby, due to the market maintaining a wait-and-see attitude before the Federal Reserve's monetary policy decision, gold prices fell after hitting a two-week high and fell into narrow fluctuations. Before the Federal Reserve made a decision, US bond yields were climbing, which was also a resistance for gold.

In terms of bearish data, gold prices have remained basically stable since the spring. However, due to the rise in US bond yields and the strengthening of the US dollar, gold is facing some pressure. investment bankSPAngelAnalysts wrote in a report that as market consensus shifts towards soft landing expectations, the attractiveness of gold to the market this year is limited. KitcoSenior Market AnalystJim WyckoffIt is expected that the Federal Reserve will still lean towards hawks in monetary policy tomorrow, as they hope inflation is close to2%The goal is not conducive to gold.

In terms of bullish data, higher returns increase the opportunity cost of holding non yielding assets such as gold, while a strong US dollar makes commodities more expensive for users of other currencies. The US dollar index is derived from its6The month high has fallen, making gold more attractive to other currency holders. At the same time, the Federal Reserve plans to maintain high interest rates for an extended period of time, which has set the benchmark10The yield of one-year treasury bond bonds is pushed to16The high level in recent years has weakened the attractiveness of unprofitable gold. City IndexandFOREX.comMarket analyst forFawad RazaqzadaIn market reviews, it was stated that in order to reduce the opportunity cost of holding gold, bond yields must rapidly decline. Otherwise, the gold price is likely to decline again from its current level, indicating that the market is cautious towards the US dollar, which remains strong despite being off its optimal level. RazaqzadaPoint out that the indicator is the United States10Yields of one-year treasury bond bonds once touched on Monday2007The highest point since the beginning of the year, followed by a decline.

In summary, gold prices were suppressed by the rise in US bond yields and the overall strength of the US dollar, but the US dollar index6The month high has fallen, limiting the decline in gold prices; This week's focus will be on the Federal Reserve's policy meeting.

Press from above(Upper resistance) 1932.00，1934.40； From the downward direction, the lower support1930.80。

CPT MarketsRisk Tips and Disclaimers : The above article content is for reference only and is not intended as future investment advice.CPT Markets The articles published are mainly based on international financial data reports and international news as reference.