Gold price is moving sideways and showing signs of increasing sl

Greetings, dear friends! What are your thoughts on the potential movement of gold today? Allow me to share my perspective on the current state of gold prices:
At present, gold prices remain stagnant near a five-month low, hovering around $1,896.43 per ounce. This can be attributed to the rise in Treasury yields, which exerts downward pressure on this precious metal. As a result, we can expect gold prices to continue moving sideways or even decline.
The market received some support when the USD Index experienced a slight decrease of 0.1%. However, US 10-year yields continued their upward trend and reached 4.3439%, marking their highest level since October. Consequently, this development has diminished the appeal of investing in gold.

Good luck everyone <3

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Are you satisfied with the gold price today?

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Investors' focus this week will be Fed Chairman Jerome Powell's speech on Friday, when central bank governors around the world gather in Jackson Hole to attend. Annual conference.

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Michele Schneider, director of research at MarketGauge, said that just Mr. Powell's more dovish messages on monetary policy coming up would be enough to support gold prices.

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Despite recent selling pressure, analysts note that the gold market is resilient despite bond yields rising to new 15-year highs.

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although yields could move higher in the near-term, an end to the cycle of central bank tightening will eventually hold back gold's rally.

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On August 25, Fed Chairman Jerome Powell will give a speech giving his views on the Fed's monetary policy in the near future.

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Short-term Treasuries currently offer yields around 5%, which is significant competition for gold.