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Gold investors panic amid the rise of the US 10-year yields – GOLD Market Outlook – 17/02/2021

SquaredFinancial

US10Y yields jumped to one year highs, printing above 1.30%, as optimism around a recovering economy continued to buildup, pushing the non interest bearing safe haven to below the $1800 mark with the death cross now confirmed on the daily chart, a bearish technical formation that foreshadows further downside. An hourly close below 1790 support level will have 1780 and 1770 as next support targets, as investors wait for FOMC minutes along with PPI and Retail Sales data out of the US today.

Support: 1790/ 1780 / 1770
Resistance: 1800 / 1815

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/gold-investors-panic-amid-the-rise-of-the-us-10-year-yields-gold-market-outlook-17-02-2021
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