Gold Gold Daily Video, July 09, 2024

[Sive Morten]

Good morning,

The pullback on gold market is started. The first level that we've agreed to keep an eye on is ~2350 K-support:

 

[soul rebel]

Hello Sive and all,
regarding the 3-Yr & 10-Yr Note Auctions....
If the actual yields exceed expectations, that would be bullish for the USD and vice versa, correct?

 

[Sive Morten]

Hello Sive and all,
regarding the 3-Yr & 10-Yr Note Auctions....
If the actual yields exceed expectations, that would be bullish for the USD and vice versa, correct?

Hi Viresh,
In general it means that demand for the US debt is dropping and investors ask for higher yields. From fundamental analysis point of view, this is negative sign for the US.

For dollar tactically - Yes, it is supportive. But until some moment, when investors will start nervous about too high yield, if actions' yields will be growing constantly.