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Gold slips below $4,400 as US yields rise and dollar firms

The US 10-year yield is above 4.7% and the 30-year yield is above 5.3%, pressuring XAU/USD after a failed push above $4,430.

Reported · Written up by our desk · Major Pairs

Gold prices eased on Tuesday, trading just below $4,400 after rejecting the $4,430 area earlier, with the move linked to a rally in US Treasury yields and a mild US dollar recovery, according to FXStreet. FXStreet attributed the dollar support to growing concerns about renewed hostilities in the Middle East. It cited that a June memorandum of understanding expired on Monday and that Washington and Tehran have both increased their threats, with US President Trump threatening to bomb Oman and Iran saying its posture has shifted to a “fully offensive” stance. Rising rates across the Treasury curve added further pressure on bullion. FXStreet noted that the US benchmark 10-year yield reached a one-year high above 4.7% and the 30-year yield climbed to fresh 19-year highs above 5.3%, while XAU/USD last traded around $4,390. On the technical front, FXStreet said momentum indicators remain bullish, with the 14-day RSI at 62.94 and the MACD positive, but it pointed to resistance near Thursday’s high around $4,450 and the 200-day simple moving average just above $4,500. On the downside, a break of Friday’s low near $4,317 could expose the August 6 low at $4,223 and a deeper base around $4,000.

Latest closeGold $4,432.00 ▲1.6%

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