GOLD TALKING POINTS
The price of gold attempts to retrace the decline from the beginning of March as the US 10-Year Treasury yield pulls back from a fresh yearly high (1.62%), but key market themes may keep the precious mental under pressure as the Federal Reserve appears to be in no rush to alter the path for monetary policy.
FUNDAMENTAL FORECAST FOR GOLD: BEARISH
The price of gold bounces back from a fresh weekly low ($1688) as the initial reaction to the 379K rise in US Non-Farm Payrolls (NFP) dissipates, and the recent weakness in longer-dated Treasury yields may lead to a larger rebound in the precious metal even as the Federal Open Market Committee (FOMC) maintains a dovish forward guidance.