ANALYSIS
NQ100 Finds Support from PPIApr 14
Ounce Gold Continues to Remain Under the Dollar Pressure
With the strong hawkish statements of influential figures from the Federal Open Market Committee (FOMC), the selling in the global bond market supports the US dollar. While the US 10-year bond yields reached their highest level since April 2010 with %4.00, ounce gold is struggling to find demand against the dollar index, which renewed its 20-year high. At this point, the 1635 level will be an important determinant in yellow metal pricing. As long as this zone is defended as a resistance, the probability of the commodity descending to 1600, which will be the first since April 2020, will continue to increase behind 1611.
