10-Year Yield Above 5% Pressures Gold to Two-Week Low
Gold is pinned near $4,280, hovering just above its recent low, as the 10-year Treasury yield hits a 2007 high and the dollar firmness weighs on the non-yielding metal. With markets bracing for a Fed rate hike on Wednesday, technical signals point to continued downside pressure if policymakers signal a broader tightening cycle.
Per GN markets/policy (en-US), technical indicators show gold trading just above the 50-day SMA at $4,275, with a soft RSI at 43 suggesting building bearish momentum. The report notes that traders are largely standing aside ahead of Wednesday's Fed decision, where markets expect the first rate hike since 2023 driven by persistent inflation from the Middle East conflict.
Source: FXStreetGold prices fell below $4,274 as the 10-year Treasury yield breached 5% for the first time since 2007. Sellers maintain control as the dollar strengthens and crude oil remains above $100.
Source: FXEmpire
