Gorila Capital news
Gold holds near $4,030 as higher yields test the $4,000 floor
· comhot
Spot gold traded around $4,030 an ounce on Thursday morning, slightly lower on the day after the Fed kept a further hike in play. Firmer Treasury yields raise the cost of holding a metal that pays no interest. Our daily pivot sits near $4,045, with support levels at $4,010 and $3,985.
Our view
The $4,000 area is the line we watch: it is both a round number and the zone where buyers stepped in this month. A daily close below it would open room toward $3,950; holding it keeps the range intact. Size positions for wide swings around US data.