Spot gold contracts fell below $1990, specifically at $1985.4 an ounce, down by 0.95%, losing $19 so far, while gold futures fell below $2000, by 0.89%, to record $1998.95.

The 10-year Treasury yield rose by 2.17%, to record 3.599% now, while the two-year bond yield rose by 2.17%, to record 4.1921%.

The main indices of the US market are still moving in a narrow range, as the Nasdaq index falls by 0.12% and the S&P 500 index falls by 0.06%, while the Dow Jones index settles at 33,916.96 points.

Federal .. and prices at the opening

The US Federal Reserve got a new bond to support it in raising interest rates and sticking to a tight monetary policy if it wanted to, after manufacturing data came strongly positive for the first time in five months. After supporting the US dollar in last Thursday's trading after the statements of Christopher Waller, the most famous hawk of the Federal Reserve, that he needed more than one hike in interest rates, which affected the sentiment of gold and the stock market and strengthened the dollar, today's data came to give more confidence to the Fed.

And gold turned its rise at the beginning of the Asian session by 0.3% down now, as spot gold contracts lost 0.38% to trade below the $2000 levels, specifically at $1996.3 an ounce, while gold futures fell by 0.35%, to record now $2008.45 an ounce.

Dikest, technical analyst, said: “Recovering the bullish momentum hinges on the longs’ ability to defend the support areas at $1,992 and $1,988, and further declines could be seen towards $1,976 and $1,967.

On the other hand, the US dollar index managed to rise against a basket of foreign currencies by 0.48%, recording 101.725 against a basket of foreign currencies. The dollar's strength was reflected in oil and the main indices of the US market.

Crude oil is now down 0.52% to $82.01 a barrel, while Brent oil is down 0.51% to $85.87 a barrel.

The US market indices are moving in narrow ranges, as the Nasdaq index rose by 00.11% now, the Dow Jones rose by 0.11%, and the S&P 500 index settled at 4138.60 points.

It is noteworthy that the Empire State index was released before the opening, and the index recorded 10.8 points, while it was expected to be -18, for gold to give up its gains and turn to decline after a new sign of the strength of the US economy, which gives the Fed greater confidence in raising interest rates for a longer period than expected.