The US dollar was basically flat, buffered by depressed market sentiment and rising US bond yields Gold pressure reduction and consolidation

The US dollar was basically flat, buffered by depressed market sentiment and rising US bond yields

Gold pressure reduction and consolidation

On Monday (November 6), with the rise of the US treasury bond bond yield and the improvement of the emotional ceiling, the gold price consolidated on the key support. Following last Friday's sell-off, the US dollar index (DXY) is attempting to recover. IG customer sentiment indicates that retail traders are overwhelmingly bullish on gold and silver. After another attempt to break through the $2000/ounce mark last Friday was hindered, gold prices fell by about $15 in Monday's volatile trading. The yield of US treasury bond bonds rose slightly and risk appetite improved, thus limiting the rise of precious commodities.

The yield of the US 10-year treasury bond fell to a five week low on Friday, and the yield of the US 10-year treasury bond rose by about 8.5 basis points on Monday, reaching a record high of 4.6577%. The yield of 3/5-year treasury bond rose to 10 basis points, hitting a daily high of 4.7420% and 4.6070% respectively.