ANALYSIS
NQ100 Finds Support from PPIApr 14
Bond Rates Continue to Pressure on Ounce Gold
Sales surge continues in the global bond markets. While the benchmark US 2-year treasury yields reached their highest level since November 2007 with %3.58, US 10-year treasury yields are at the peak of 3 months at %3.37. As a matter of fact, while the 2-10-year yield curve recovered from the 22-year low of minus 0.45 on August 9 to the region of minus 0.20 percent, we see that ounce gold has difficulty in finding demand with the quality of safe harbor. Technically, the 200-period exponential moving average, which points to 1740, remains decisive. As long as persistence below this level is achieved, the risk of a descent to 1700, which is the psychological boundary line behind 1711, will continue to increase.
