Gold price recently eased from the multi-day high as the United States Treasury bond yields bounced off the latest troughs as the market sentiment improves and traders gear up for the next week’s Federal Reserve (Fed) meeting. Even so, the second consecutive weekly loss for the benchmark bond coupons allow the XAU/USD to brace for three-week uptrend, as well as the biggest weekly gain since early January.
That said, United States 10-year and two-year Treasury bond yields are down for the second consecutive week despite the previous day’s rebound from the multi-day low. It should be noted that the US 10-year Treasury bond yields bounced off six-week low to end Thursday’s North American trading session around 3.58% while the two-year counterpart recovered from the lowest level since mid-September 2022 to 4.17% at the latest.
It’s worth noting that the recent shrinking in the US 10-year and two-year Treasury bond yields inversion seem to help the Gold buyers.
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