Gold Price Forecast: Gold Reaches Key Resistance as Yields Fall

 

Q4 begins with a glimpse of optimism as bond rates come down, easing pressure on equities and gold. After a terrible third quarter for risk assets, US Treasury Yields have began the fourth quarter with a dip, providing some optimism. That has relieved pressure on a variety of sectors, with commodities and stocks playing a crucial role. The more important issue is, of course, whether this represents the end of an existing trend or the beginning of a new one. I believe that the majority of people worldwide are more likely to believe the former than the latter. Therefore, whatever boost we see in risk assets due to declining rates appears to be a passing trend in the overall scheme of things.
If pullbacks do continue, they may abruptly reverse course whenever we encounter the next significant factor that serves as a reminder to everyone that the Fed hasn’t stopped raising interest rates yet. The 10-year note’s yield last week hit a brand-new 11-year high of 4%. This occurred on Thursday, the same day that gold hit a new two-year low and bottomed out. 
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