Market News / Story
Gold breaks out as US dollar rally cracks and Treasury futures find buyers
stonex.com ·
Gold is attempting to break out after a punishing bearish period since late August, just as two of the key markets that contributed to its weakness are showing signs of potentially reversing. US 10-year Treasury note futures look to be establishing a bottom, having hit extreme oversold conditions earlier this month, while the US Dollar Index has broken its ...
Related stories
Gold rises toward $4,180 as Treasury yields ease from 24-year highs and US dollar pausesRead story summary
Gold’s rebound is tied closely to the pullback in Treasury yields, leaving it exposed if the bond selloff resumes ahead of the Fed’s October meeting. With markets pricing an 82% chance of a hike by December, any strong US data or hawkish Fed commentary could quickly push yields back up and gold back toward its recent lows. Oil remains the inflation ...
VIEW SOURCE