Gold remains steady unaffected by rising US Dollar and Treasury yields. Mixed US manufacturing data: S&P PMI expands, ISM PMI contracts for third consecutive month. US 10-year Treasury yield climbs nearly 9 bps to 4.489%, bolstering Dollar's rebound. That, along with a shortened week in observance of Independence Day in the US and an eventful week, keeps the XAU/USD trading within familiar levels at around $2,327 flat.
Further losses lie underneath, with sellers eyeing the Head-and-Shoulders chart pattern objective from $2,170 to $2,160. On the other hand, if buyers stepped in and conquered $2,350, that would expose additional key resistance levels like the June 7 cycle high of $2,387, ahead of challenging the $2,400 figure. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange.