The yield of 30-year Treasuries climbed above the 5.12% level amid worries about Fed policy outlook. Bond markets in the UK, Germany, France, Japan and other developed countries have found themselves under strong pressure.
The sell-off in bond markets forced investors to raise cash elsewhere, which had a negative impact on gold prices.
Brent oil climbed above the $109.00 level as Trump – Xi summit concluded without any breakthrough. Traders are worried that U.S. will restart the military operation against Iran over the weekend.
Currently, gold is trying to settle below the support level at $4530 – $4550. In case this attempt is successful, gold will head towards the next support, which is located in the $4530 – $4550 range. RSI is in the moderate territory, so there is plenty of room to gain additional downside momentum in case the right catalysts emerge.
