fxstreet.com 17 Feb, 2021 08:00 am

Risks remain skewed to the downside for XAU/USD amid reflation trade – Confluence Detector

Risks remain skewed to the downside for XAU/USD amid reflation trade – Confluence Detector
Gold (XAU/USD) licks its wounds near two-week troughs below $1800, overwhelmed by the surge in the US Treasury yields, as investors dumped the safe-ha

Gold (XAU/USD) licks its wounds near two-week troughs below $1800, overwhelmed by the surge in the US Treasury yields, as investors dumped the safe-haven US bonds amid the revival of the reflation trades.With more US fiscal stimulus coming in alongside vaccine optimism, the expectations for higher global inflation drove the benchmark 10-US Treasury yields to the highest levels since February 2020.2% one-day and SMA5 four-hour.The XAU bulls are likely to face an uphill task on the road to recovery towards $1822, where the SMA5 and 10 one-day coincide with the SMA100 one-hour.

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