Gold Prices Slip as Treasury Yields Rise

The precious metal continues to trade weak with price action extending declines for a third consecutive day.

The declines come as Treasury yields are rising higher. Investors are betting that the global economy will re-open quicker than anticipated with appetite for further stimulus falling.

Gold prices have been trading within the 1817 and 1764 levels since the middle of February.

We expect this sideways range to continue.

To the downside, gold prices will likely retest the previously formed support at 1764.22.

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