Gold Price Hits 10-Day Low as Rising Yields Test Support - FXEmpire

AI desk brief

Gold slid to a 10-day low as rising U.S. yields and Fed rate repricing pressured non-yielding assets, with the 10-year Treasury yield quoted at 4.78%. FXEmpire said the move has put key technical support in focus, with the 50-day EMA just below current levels and the 200-day EMA beneath that; a break of those averages could open the door to a sharper correction.

The near-term driver is the market’s pushback against easier-policy expectations after Fed Chair Kevin Warsh signaled rates could go higher, while firmer oil is stoking inflation concerns and reinforcing a tighter-for-longer Fed backdrop. That mix is weighing on gold and silver in the short run even as longer-term demand remains intact.

On the supportive side, the piece highlights continued central-bank buying: 244 tons in Q1, the highest quarterly figure since late 2024, with China reportedly adding at least 8 tons in April, its biggest move in some time. That leaves the medium-term bull case structurally intact, but price action now hinges on whether real yields and Treasury stress keep pushing higher or whether bullion can hold the 50-day/200-day support zone.