GOLD: FUNDAMENTAL INFOs + TECHNICAL ANALYSIS | SHORT SETUP 🔔

Gold price is deep in the red amid risk-on mood, rallying US Treasury yields.
Russia-Ukraine updates will continue to dictate risk sentiment, dollar trades.
Gold Price appears vulnerable below $1,994, focus on yields, Ukraine updates.
Gold price is facing a double whammy from an improved market mood on hopes for diplomacy on the Ukraine crisis. While the expected 25 bps Fed rate hike this week is keeping the US Treasury yields on a stronger footing, The risk-on flows seem to be weighing down the US dollar, which cushions the downside in gold price. Looking ahead, the Russia-Ukraine war-related updates and risk sentiment will lead the way, in absence of first-tier economic data. Also, the US-Sino high-level talks to discuss Ukraine will be also closely followed.