Kelvin Wong

"For now, WTI crude oil is evolving in a short-term bullish dynamic, holding above its 20-day moving average, acting as a key short-term support at $63.90/barrel."

"Ten-year U.S. Treasury yields after subtracting inflation, so the real yield, have plummeted and that actually is currently a supporting factor, allowing gold to hold steady regardless of the risk premiums ticking down yesterday after U.S.-Iran talks."

"Ten-year US Treasury yields after subtracting inflation, so the real yield has plummeted and that actually is currently a supporting factor, allowing gold to hold steady regardless of the risk premiums ticking down yesterday after US-Iran talks."

"due to the news flow from US President Trump himself, stating that there is a potential for de-escalation… So what we could see is that potential inflation expectation starts to tone down given this dramatic fall in oil price"

"due to the news flow from US President Trump himself, stating that there is a potential for de-escalation… So what we could see is that potential inflation expectation starts to tone down given this dramatic fall in oil price"

"due to the news flow from US President Trump himself, stating that there is a potential for de-escalation… So what we could see is that potential inflation expectation starts to tone down given this dramatic fall in oil price."

"Gold prices rose due to the news flow from US President Trump himself, stating that there is a potential for de-escalation… So what we could see is that potential inflation expectation starts to tone down given this dramatic fall in oil price."

"markets are looking for a second so-called headline threat to be revealed later."

"As long as this risk of prolonged closure of the strait is there, oil will continue to trade at elevated levels, pressuring gold prices."

"Gold is still being trapped in this sideways range, between the 50-day moving average at around $4,900 and at the bottom, the 20-day moving average at $4,645 level."

"As long as this risk of prolonged closure of the strait is there, oil will continue to trade at elevated levels, pressuring gold prices."

"The selloff in the longer end of the U.S. Treasuries implied that longer-term interest rates potentially are on the rise, which also indirectly creates a higher opportunity cost for holding gold."