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Gold holds near $4,400 as US Treasury yields rise

10-year Treasury yields rose to 4.74% and 30-year yields topped 5.3% again, while gold stayed around $4,400 an ounce, Commerzbank noted.

Reported · Written up by our desk · Precious Metals

Gold prices have held near USD 4,400 per ounce even as US Treasury yields moved higher, according to analysis cited by FXStreet.

Commerzbank analyst Carsten Fritsch said the metal has effectively decoupled from real interest rates, with the 10-year Treasury yield reaching 4.74% and the 30-year yield exceeding 5.3% for the first time since 2007.

Fritsch added that inflation expectations have barely changed, bringing real rates back toward late-July levels, and said gold was trading significantly lower then at about USD 4,040.

He also pointed to market skepticism around the Fed’s ability or willingness to hike enough to contain inflation, and to concerns about fiscal risks and rising government debt as potential supports, while noting renewed investor interest reflected in ETF flows after recent outflows.

Latest closeGold $4,432.00 ▲1.6%

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