February 2, 2023

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Gold dips as Treasury yield grind higher

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Gold backs away from $1790

Gold backs away from $1790

Gold was bid in Asian trading and early in Europe but it’s given it all back now as Treasury yields tick higher. US 10s fell as low as 1.55% but they’re up to 1.60% now.

With that, gold has fallen to $1773 from a high of $1790.

Technically, it broke above a double top at $1755 last week so that will be support now as it consolidates ahead of the next move.

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