Gold Price Analysis: Bears testing bullish commitments at 200 dma



XAU/USD's recovery at odds with the US dollar's daily chart, the price of gold remains anchored.
Rising rates continue to place a wet towel on gold markets with spot gold now flirting with a break below the 200-DMA.
Complacent positioning in gold is being shaken-up by a rise in rates, and with positioning still stretched, the aggressive rise in Treasury rates is placing continued pressure on the consensus-long gold market, which could still threaten a deeper positioning squeeze.
The US dollar has also benefitted from expectations of a continued economic recovery in the United States.

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United States Dollar
- United Arab Emirates Dirham
- Australia Dollar
- Canadian Dollar
- Swiss Franc
- Chinese Yuan
- Danish Krone
- Euro
- British Pound
- Hong Kong Dollar
- Hungarian Forint
- Japanese Yen
- South Korean Won
- Mexican Peso
- Malaysian Ringgit
- Norwegian Krone
- New Zealand Dollar
- Polish Zloty
- Russian Ruble
- Saudi Arabian Riyal
- Swedish Krona
- Singapore Dollar
- Thai Baht
- Turkish Lira
- United States Dollar
- South African Rand
- Amount
- South African Rand
- Available
- -- United States Dollar