Market News Analysis

Global sovereign bonds experienced a concerted sell-off, with US long-term Treasury yields surging to near 20-year highs, sharply elevating the opportunity cost of holding non-yielding precious metals. On August 19, the US 30-year yield touched its peak since mid-2007, and the 10-year yield climbed above 4.7%. Rising risk-free bond yields acted as the core driver suppressing gold and silver.

US-Iran negotiations completely broke down, and intensifying Strait of Hormuz tensions pushed energy prices higher. Sticky inflation concerns reinforced high-interest-rate logic, further depressing gold and silver valuations. Energy benchmark prices hit 3-week highs, reviving inflation rebound expectations.

Markets await the Fed's July FOMC policy minutes. Policy path uncertainty and strong wait-and-see sentiment limited gold and silver's rebound space, keeping them consolidating at lower levels.

Gold Technical Analysis

Daily: Asian open at $4,341.55/oz. Following yesterday's pullback, prices consolidated narrowly within a mildly bullish structure. MAs remain in a death cross while price rests above the 80 MA, awaiting resonance for mid-line positioning.

Intraday (15-min): Bearish MA alignment with price above the 80 MA. Await MA-price resonance before taking action.

Silver Technical Analysis

Daily: Open at $63.254/oz, trading in a narrow range. Bearish MA death cross with price between double MAs; await resonance for mid-line setup.

Intraday (15-min): Bearish MA alignment between the 20 and 80 MAs. Await a breakdown below MAs for short entries.

Risk Warning

Trading markets involve unpredictable risks, including but not limited to principal loss. This analysis is for reference only and does not constitute direct investment advice.