Gold is confined between Fibonacci levels, although with increased bearish potential XAU XAUUSD $XAU $XAUUSD
plummeted on the renewed dollar’s demand, the latter boosted by soaring government bond yields. The catalyst was the Bank of Japan, as it announced it will be buying an unlimited amount of 10-year JGBs at 0.25% in an attempt to defend the yield cap. XAUUSD currently trades at around $1,939.
Meanwhile, the Eastern Europe crisis adds to the dismal market mood. The latest on the issue came from Moscow, as Russian lawmaker Ivan Abramov on Monday said a refusal by the G7 to pay for Russian gas in roubles would lead to an unequivocal halt in supplies. Talks continue, although a diplomatic solution seems out of range at the time being.shows that the pair is trapped between Fibonacci levels, as it remained below the 38.
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