Gold finds a pulse as WTI slump takes the edge off US Dollar
Gold (XAU/USD) price holds firm on Friday after two days of losses, as US bond yields remain high and inflationary concerns mount, increasing the likelihood of further tightening by the Federal Reserve (Fed) and other major central banks. The XAU/USD pair trades at $4,280 after reaching a low of $4,254. XAU/USD stabilizes as easing crude offsets stubbornly high Treasury yields The yellow metal recovered some ground as Oil prices edged lower amid progress in US-Iran negotiations, with CBS reporting that conversations moved to a detailed technical phase and sources in Tehran describing the atmosphere as positive. However, a Senior Iranian official confirmed that the Strait of Hormuz will remain closed and that conditions for nuclear talks between both parties have not been met. Despite this, West Texas Intermediate (WTI) is down over 3% to $91.00 per barrel. At the same time, the US Dollar Index (DXY), which tracks the bucks performance against a basket of six currencies, is down 0.22% at 101.02. The US 10-year Treasury yield edged down nearly 2 basis points to 5.192% on Friday, even though traders increased bets that the Federal Reserve will continue to tighten monetary policy. Data-wise, the US economic schedule featured core Durable Goods Orders rising above estimates









