Gold News: High Treasury Yields Keep Spot Gold Buyers on the Defensive - FXEmpire

AI desk brief

Spot gold closed slightly higher at $4,284.97 (+0.26%) but was rejected just below the 50-day moving average at $4,317.56 and the 50% retracement at $4,319.61, keeping the weekly loss intact. Upside is capped until gold clears $4,317-$4,320; below, a break of $4,235.17 would resume the downtrend, with $4,230.51 (61.8% retracement) the key support beneath that cluster.

The macro backdrop remains hostile: the 10-year Treasury yield finished near 5.16% after touching its highest since June 2007, while CME FedWatch priced October hike odds near 66% and December near 93%. A modest Friday pullback in the USD and softer oil tied to U.S.-Iran diplomacy helped gold stabilize, but reduced safe-haven demand and still-elevated yields leave rallies vulnerable.