emarks by ECB chief economist, Philip Lane

• We will need to provide ample monetary accommodation for an extended period

It didn't work with Lagarde earlier in the week, it isn't going to work here. As long as Treasuries continue to steepen, European bond yields will also face a similar phenomenon.

At the highs today, 10-year bund yields reached its highest level since June last year:

Further Development

Analyzing the current trading chart of Gold, I found that the sellers are in control and the price is heading towards our main downside target at $1,765.