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Gold price subdued on firmer US$ , Treasury bond yields

Gold Price (XAU/USD) fades the late Monday’s corrective bounce off the 200-DMA support by retreating to $1,907 during the early hours of Tuesday’s Asian session, depressed at the five-week low flashed the previous day .

In doing so, the XAU/USD bears the burden of the US Dollar’s strength amid economic fears surrounding China. Also exerting downside pressure on the Gold Price could be the cautious mood ahead of the US Retail Sales for July.

It’s worth noting that the US Dollar ignores the looming fears of the Federal Reserve’s (Fed) policy pivot in September, as well as recently softer United States inflation clues while tracing firmer US Treasury bond yields.

Gold Price remains depressed amid the firmer US Dollar and fears surrounding the biggest XAU/USD customer China. In doing so, the bright metal fails to justify its traditional haven status, as well as marks inability to cheer concerns that the US Federal Reserve (Fed) will hold rates steady in its September monetary policy meeting, backed by the recently softer US data.

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