Gold News: Gold Price Drops as $100 Oil Drives 10-Year Yield Above 4.9% - FXEmpire

AI desk brief

Spot gold fell more than $60 as crude oil pushed back above $100/bbl, the U.S. 10-year yield broke above 4.90% to its highest since Nov. 2023, and the dollar firmed. The article says the move was not driven by PPI — headline PPI matched forecasts and core was softer than expected — but by inflation fears from energy prices, which shifted the market toward higher yields and away from gold.

Gold is quoted at $4,367.52, down 0.79%, after the $4,396.78 pivot failed. Sellers are now targeting $4,319.60, then the $4,282.62-$4,266.76 support zone, while a break above $4,510.93 would flip the trend back up. Friday’s CPI is framed as the key catalyst for whether the yield surge extends or partially reverses ahead of the Sept. 15-16 Fed meeting.