Gold trades comatose even as treasury yields retreat

Gold prices are trading flat in Asia even though the treasury yields are hovering in moderate losses.

Capped at $1318

Prices clocked a high of $1318 in Asia before retreating to $1314 to trade largely unchanged on the day.

In a largely dull Asian session, treasury yields suffered moderate losses. The 10-yr yield, 5-yr yield and 2-yr yield are down one basis point each. However, that is not helping gold maintain the bid tone. Moreover, uptick in the Asian stocks could be keeping the gains in the metal under check.

Gold Technical Levels

A break below previous day’s low of $1309.26 could yield a test of $1305 (100-DMA) and $1300 (zero figure). On the other hand, breach of resistance at $1319 (5-DMA) would expose 10-DMA level of $1328 and 50-DMA level of $1333.