Market news
14.10.2021, 11:04

Breaking: Gold rises to $1,800 for the first time in a month

Following Wednesday's impressive upsurge, gold preserved its bullish momentum in the first half of the day Thursday and touched $1,800 for the first time since mid-September.

At the time of press, the XAU/USD pair was up 0.4% on the day at $1,800.15.

Falling US Treasury bond yields seem to be fueling gold's rally in the second half of the week. After bond markets returned to action on Tuesday, the benchmark 10-year US Treasury bond yield lost nearly 6% and was last seen falling 0.9% on the day at 1.525%. 

Moreover, the poor performance of US Treasury yields continues to weigh on the greenback with the US Dollar Index dropping to fresh 10-day lows near 93.80.

Later in the session, the weekly Initial Jobless Claims and September Producer Price Index data will be featured in the US economic docket. 

Gold Price Forecast: XAU/USD to see further gains on a daily close above 200-DMA.

Gold 15-min chart

Technical levels to watch for

 

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